The key support line 48.70 managed to stop Brent oil price recent negative trading, to rebound bullishly clearly resuming its main bullish track, which encourage us to continue suggesting the bullish trend in the upcoming sessions, waiting to head towards the main bullish channel’s resistance at 53.10.
Stochastic reach to the overbought areas now might cause some temporary sideways fluctuation before resuming the expected bullish trend, which will remain valid and active unless breaking 48.70 level and holding with a daily close below it.
Expected trading range for today is between 48.00 support and 52.00 resistance.
Expected trend for today: Bullish
Origin: Economies
