Brent oil price shows new positive trades to move around 55.50 level now, noticing that stochastic overlaps positively to support the chances of achieving more gains in the upcoming sessions, reminding you that our waited target reaches 57.77.
Therefore, we will continue to suggest the bullish trend on the intraday and short term basis conditioned by the price stability above 54.95, as breaking this level will press on the price to test the main bullish channel’s support line at 53.50 before turning back to rise again.
The expected trading range for today is between 54.50 support and 57.00 resistance.
The expected trend for today: Bullish
Origin: Economies
