Brent oil price continues to fluctuate within sideways and tight track settling above 41.00 barrier, while the EMA50 continues to support the price from below, waiting to breach 42.20 level to push the bullish wave towards 43.60 as a next main station.
In general, we will continue to suggest the bullish trend in the upcoming period as long as the price is above 39.95 level, noting that breaking this level will stop the bullish wave temporarily and push the price to test the key support base at 37.29 before any new attempt to resume the expected bullish trend.
Expected trading range for today is between 40.00 support and 44.00 resistance.
Expected trend for today: Bullish
Origin: Economies
