Brent oil price opens today’s trading with new rise to breach 40.23 level and settles above it, which leads the price to turn to rise, on its way to achieve new gains that start at 42.70, supported by moving above the EMA50.
Therefore, the bullish bias will be expected in the upcoming sessions, taking into consideration that breacking 40.23 and holding below it again will reactivate the bearish trend scenario that its negative targets begin by testing 39.25 followed by 37.40 areas.
The expected trading range for today is between 39.00 support and 42.70 resistance.
The expected trend for today: Bullish
Origin: Economies
