Brent oil price decline stopped near the key support 46.76 and kept the daily close above it, which keeps the main bullish trend scenario valid until now, supported by stochastic positivity that appears on the four hours’ time frame, waiting to resume the bullish bias that its main targets begin at 50.40 and extend to 52.83 after breaching the previous level.
Therefore, we will continue to suggest the bullish trend in the upcoming sessions conditioned by the stability of the daily close above 46.76.
Expected trading range for today is between 46.50 support and 50.00 resistance.
Expected trend for today: Bullish
Origin: Economies
