The EMA50 managed to form strong support base to protect Brent oil price from suffering more losses, to rebound bullishly and resume its positive trading, which keeps our bullish overview valid until now, waiting to visit 72.00 level that represents our next main station.
The price might witness some temporary sideways fluctuation affected by stochastic reach to the overbought areas, but it general, we will continue to suggest the bullish trend for the upcoming sessions conditioned by holding above 68.70 level.
Expected trading range for today is between 68.00 support and 72.00 resistance.
Expected trend for today: Bullish