Brent oil price rallied upwards sharply on last Friday’s evening to breach 52.22 level and settles above it, which leads the price to continue rising on the intraday and short term basis, and according to the trading rules inside the channels, the price is on its way to head towards the bullish channel’s resistance at 54.65.
Therefore, the bullish trend will be suggested in the upcoming sessions, taking into consideration that breaking 52.22 will stop the suggested positive scenario and push the price to decline again, to target testing 50.72 areas again.
Expected trading range for today is between 51.40 support and 54.65 resistance.
Expected trend for today: Bullish
Origin: Economies
