Brent oil price is retesting 43.60 level and keeps the daily candlestick close above it, which keeps the bullish trend valid on the intraday and short term basis, and the way is open to head towards the next correctional level located at 48.70, as the price gets positive support offered by the EMA50 and stochastic.
Therefore, the bullish bias will remain suggested for the upcoming sessions conditioned by holding above 43.60 and 42.20 levels, as breaking these levels represent negative factor that will push the price to visit areas that reach to 38.65 before any new attempt to resume the bullish wave.
Expected trading range for today is between 42.00 support and 46.00 resistance.
Expected trend for today: Bullish
Origin: Economies
