Brent oil price breached 56.91 level clearly and settled above it, to confirm exiting the bearish channel that appears on the chart, and it completed forming a bullish pattern that its signs appear on the chart.
Therefore, these factors support the chances of continuing the bullish bias in the upcoming period, as the next positive targets located at 61.20 followed by 63.95, taking into consideration that the continuation of the suggested bullish wave depends on the price stability above 56.91 and 55.55 levels.
Expected trading range for today is between 56.50 support and 60.00 resistance.
Expected trend for today: Bullish
Origin: Economies
