Brent oil price breached the bearish channel’s resistance and settled above it, which turns the intraday track to rise, to head towards potential visit to 31.55 level, and might extend to 32.50.
Therefore, we expect witnessing more positive trades in the upcoming sessions, supported by moving above the EMA50, noting that breaking 29.70 followed by 29.15 levels will stop the suggested bullish trend and puts the price under the bearish track again.
The expected trading range for today is between 29.00 support and 32.50 resistance.
The expected trend for today: Bullish
Origin: Economies
