Brent oil price faces negative pressure to test the EMA50 that forms good support against the price at 105.80 now, to protect yesterday’s suggested positive scenario, noticing that stochastic gathers the positive momentum to support the chances of resuming the bullish bias in the upcoming sessions.
Therefore, the bullish bias will be expected for today, and the targets begin at 109.55, noting that breaking 105.80 will stop the expected rise and press on the price to turn to decline.
The expected trading range for today is between 104.00 support and 109.55 resistance.
The expected trend for today: Bullish
Origin: Economies
