Brent oil price traded negatively yesterday to break 60.20 level and settles below it, but we notice that the price provides recovery attempts now, as stochastic shows positive overlapping signal that we expect to motivate the price to resume the bullish bias and protect the price from suffering more losses, which encourages us to suggest the positive trading in the upcoming sessions, and the price needs to breach 60.95 to confirm rallying towards our next main target at 63.10.
Therefore, we are waiting for bullish bias today unless the price failed to surpass 60.20 followed by 60.95 levels, which will press on the price to achieve more decline and visit 56.91 level mainly.
Expected trading range for today is between 58.70 support and 62.00 resistance.
Expected trend for today: Bullish
Origin: Economies
