Brent oil price resumed its positive trades yesterday to approach our first waited target at 39.00, getting continuous positive support by the EMA50, while stochastic attempts to get rid of its negative momentum.
Therefore, we believe that the way is open to continue rising in the upcoming sessions, reminding you that our extended target reaches 42.40, while holding above 34.35 represents initial condition to the continuation of the bullish trend, as breaking it will press on the price to test the bullish channel’s support line at 36.25 before any new attempt to rise.
The expected trading range for today is between 37.50 support and 40.50 resistance.
The expected trend for today: Bullish
Origin: Economies
