Brent oil price tests the resistance line of the bullish pennant pattern now, waiting to surpass this resistance to activate the positive effect of the mentioned pattern followed by resuming the expected bullish trend on the intraday and short term basis, which targets 47.60 level as a next main station.
Therefore, we will keep our bullish overview that gets continuous support by the EMA50, reminding you that it is important to hold above 44.40 to continue the expected rise.
The expected trading range for today is between 44.00 support and 47.00 resistance.
The expected trend for today: Bullish
Origin: Economies
