Brent oil price’s recent trades are confined within bullish pennant pattern that its signs appear on the chart, getting continuous positive support by the EMA50, while stochastic reaches the oversold areas.
Therefore, these factors encourage us to continue suggesting the bullish trend for the upcoming period, which its next main target located at 47.60, while holding above 44.40 represents key condition to achieve it.
The expected trading range for today is between 44.00 support and 47.00 resistance.
The expected trend for today: Bullish
Origin: Economies
