Brent oil price settles at the bullish channel’s support line keeping its stability above it, and the EMA50 meets this support to add more strength to it, accompanied by stochastic move at the oversold areas.
Therefore, these factors encourage us to continue suggesting the bullish trend in the upcoming sessions, which its targets begin at 53.62 and extend to 55.00, noting that breaking 51.43 will stop the expected rise and put the price within the correctional bearish track again.
Expected trading range for today is between 51.00 support and 55.00 resistance.
Expected trend for today: Bullish
Origin: Economies
