Brent oil price shows tight and sideways trades now, noticing that stochastic gets rid of its negative momentum gradually, heading towards the oversold areas, waiting to motivate the price to resume the main bullish trend that moves organized inside the bullish channel that appears on the chart, reminding you that our next target is located at 53.10.
Therefore, the bullish trend scenario will remain valid and active for the upcoming period unless breaking 50.25 level and holding below it.
The expected trading range for today is between 50.25 support and 53.10 resistance.
The expected trend for today: Bullish
Origin: Economies
