Brent Oil reaches the first target – Analysis – 15/06/2017

rub-l13Brent oil price resumed its negative trading strongly yesterday after leaning on 48.52 level, to reach the thresholds of the first main target at 46.63, pointing that breaking this level will puhs the price to head to 45.00 directly.

The EMA50 forms continuous negative pressure that supports the continuation of the decline in the upcoming period, to keep the bearish trend active and valid for today unless breaching 48.52 level and holding with a daily close above it.

Expected trading range for today is between 45.00 support and 48.00 resistance.

Expected trend for today: Bearish

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Origin: Economies

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