Brent oil price continued to rise yesterday to settle at the bullish channel’s resistance located now at 41.35, and the price needs to breach this level to confirm opening the way to head towards 42.20 followed by 43.60 levels that represents the next main targets of the current bullish wave.
The EMA50 keeps supporting the price from below, reinforcing the chances of continuing our bullish overview on the intraday and short term basis, taking into consideration that achieving the waited targets depends on holding above 38.65 and 37.29 levels.
Expected trading range for today is between 38.65 support and 43.60 resistance.
Expected trend for today: Bullish
Origin: Economies
