Brent oil price ended yesterday with clear negativity to press on the main bullish channel’s support line, noticing that the EMA50 continues to support the price and protects the expected positive scenario, while stochastic gets rid of its negative momentum to reach the oversold areas.
Therefore, these factors encourage us to continue suggesting the bullish trend for the upcoming period, which targets 57.40 followed by 60.00 levels as next main stations, while holding above 55.25 represents key condition to achieve these targets.
The expected trading range for today is between 55.00 support and 57.80 resistance.
The expected trend for today: Bullish
Origin: Economies
