Brent oil price provided negative trades on last Friday to test the bullish channel’s support line that appears on the chart, and the price begins the attempt to rebound bullishly from there, which keeps the chances valid to resume the main bullish trend, which its next main target located at 47.60.
Stochastic provides positive signals that support the expected rise, noting that breaking 43.90 will put the price under additional negative pressure and open the way to start bearish correction on the intraday basis.
The expected trading range for today is between 43.20 support and 46.00 resistance.
The expected trend for today: Bullish
Origin: Economies
