Brent oil price succeeded to achieve our waited target at 110.05 and breached it to trade above it now, reinforcing the chances of extending the bullish wave on the intraday and short term basis, to head towards achieving additional gains that reach 113.55 followed by 115.10 levels.
Stochastic current negativity might slow the expected bullish wave, taking into consideration that failing to consolidate above 110.05 might press on the price to rebound bearishly and head to visit 105.05 areas again before any new attempt to rise.
The expected trading range for today is between 108.00 support and 115.00 resistance.
The expected trend for today: Bullish
Origin: Economies
