Brent oil price rallied strongly to the upside yesterday after leaning on the EMA50, and it managed to confirm breaching the minor bearish channel’s resistance that appears on chart, reinforcing the expectations of continuing the bullish trend in the upcoming sessions, opening the way to head towards our next main target at 48.70.
The EMA50 keeps supporting the expected bullish wave, which is organized inside the bullish channel that appears on image, while the price needs to hold above 43.60 level to keep the chances of continuing the bullish momentum.
Expected trading range for today is between 45.00 support and 49.00 resistance.
Expected trend for today: Bullish
Origin: Economies
