Brent oil price shows some bearish bias by today’s open after attempting to surpass our first waited target at 55.87, to approach testing 55.00 barrier, and the price needs to get positive momentum to assist to push the price to rise again, as our next target is located at 57.77.
Until now, the bullish trend scenario still valid and suggested for the upcoming period conditioned by the price stability above 54.95, as breaking this level will press on the price to start bearish correction for the last rise and head to test 54.10 followed by 53.42 areas before any new positive attempt.
The expected trading range for today is between 54.10 support and 57.00 resistance.
The expected trend for today: Bullish
Origin: Economies
