Brent oil price succeeded to confirm breaching 50.00 level after closing the daily candlestick above it, which reinforce the expectations of achieving more gains in the upcoming sessions, and the way is open now to head towards our main waited target of the current bullish wave at 52.83.
The EMA50 continues to provide the positive support the price, to support continuing to rise on the intraday and short term basis, noting that holding above 47.45 and 46.76 levels represent key condition to the continuation of the expected bullish trend.
Expected trading range for today is between 49.00 support and 52.83 resistance.
Expected trend for today: Bullish
Origin: Economies
