Brent oil price managed to breach the bearish channel’s resistance and closed the four hours candlestick close above it, reinforcing the expectations for the bullish trend continuation in the upcoming period, opening the way towards 47.05 level mainly, reminding you that breaching this level will push the price to extend its gains to 49.21 on the near term basis.
Therefore, the bullish trend will remain the dominant for today unless breaking 45.55 level and holding with a daily close blow it.
Expected trading range for today is between 44.50 support and 48.00 resistance.
Expected trend for today: Bullish