Brent oil price succeeded to reach our waited target at 43.38 and settles near it now, and continues to move inside the intraday bullish channel that supports the chances of breaching this level to open the way to achieve more positive targets in the upcoming period, as our next target is located at 45.50.
Therefore, we will continue to suggest the bullish trend on the intraday and short term basis, supported by the EMA50 that keeps carrying the price from below, noting that holding above 42.20 represents initial condition to continue the suggested rise.
The expected trading range for today is between 41.50 support and 45.50 resistance.
The expected trend for today: Bullish
Origin: Economies
