Brent oil price kept the stability of the daily close above 43.60 level, which reinforce the expectations of the bullish trend continuation in the upcoming sessions, to continue trading inside the bullish channel that appears on chart, which its next main target located at 48.70.
The EMA50 provides continuous support to the positive overview, which its continuation conditions holding above 43.60 and 42.20 levels, noting that breaking these levels will push the price to decline and a potential visit to the bullish channel’s support at 38.55 before any new attempt to rise.
Expected trading range for today is between 42.00 support and 46.00 resistance.
Expected trend for today: Bullish
Origin: Economies
