Brent oil price resumed its positive trading to reach the neckline of the inverted head and shoulders’ pattern at 63.10, getting continuous support by the EMA50 that protects trading inside the bullish channel that appears on the image, which supports the chances of breaching the mentioned level and rally to achieve new gains that reach 68.00 on the near term basis.
Therefore, we will continue to suggest the bullish trend in the upcoming period conditioned by the price stability above 61.25.
Expected trading range for today is between 61.25 support and 65.00 resistance.
Expected trend for today: Bullish
Origin: Economies
