Brent oil price tested the key support base 46.35 yesterday and kept its stability above it, to rebound upwards clearly and start testing 47.49 level now, supported by stochastic positivity, and the price needs to breach this level to confirm the continuation of the bullish wave on the intraday and short term basis, followed by opening the way to head towards 48.91 followed by 51.20 levels as next main target.
In general, the positive scenario will remain valid and active for the upcoming period unless breaking 46.35 level and holding with a daily close below it.
Expected trading range for today is between 46.00 support and 50.00 resistance.
Expected trend for today: Bullish
Origin: Economies
