Brent oil price resumed its positive trades inside the bullish channel that appears on the chart, to approach the waited target at 62.50, getting continuous positive support by the EMA50, which supports the chances of breaching the mentioned level and open the way to achieve more gains on the short term basis, as the next target is located at 64.35.
Therefore, we will keep our bullish overview conditioned by the price stability above 59.60, noting that stochastic current negativity might cause some temporary bearish bias before resuming the expected rise.
The expected trading range for today is between 60.50 support and 63.00 resistance.
The expected trend for today: Bullish
Origin: Economies
