Brent oil price provided more positive trades yesterday to test 58.00$ barrier, and attempts to return to the main bullish channel, but stochastic negativity blocks the mission to rise, waiting to gather enough positive momentum to push trades to continue rising and head towards our main positive target at 60.00.
Therefore, the bullish trend scenario will remain valid and suggested on the intraday and short term basis, noting that holding above 56.65 is important to continue the expected rise.
The expected trading range for today is between 56.50 support and 59.00 resistance.
The expected trend for today: Bullish
Origin: Economies
