Brent oil price faced negative pressure yesterday to trade below 46.00 barrier, as it fluctuates around the EMA50 now, noticing that stochastic gets rid of its negative momentum and begins overlapping positively now, which supports the chances of resuming the main bullish trend, which its next target located at 47.60 followed by 49.00.
Therefore, the positive scenario will remain active for the upcoming period unless we witnessed clear break and holding below 44.90.
The expected trading range for today is between 44.70 support and 47.60 resistance.
The expected trend for today: Bullish
Origin: Economies
