Brent oil price fluctuates within sideways and tight track since morning settling near 50.72 level, waiting to breach this level to confirm extending the bullish wave towards our next target at 52.22.
Stochastic negativity interprets the reasons of the current sideways fluctuation, waiting to get positive motive that pushes the price to continue the expected bullish trend, which gets continuous support by the EMA50, while its continuation conditions holding above 49.50.
Expected trading range for today is between 49.50 support and 53.00 resistance.
Expected trend for today: Bullish