Brent Oil touches the first target – Forecast – 14/09/2017

neft-l3Brent oil price succeeded to touch our first waited target at 55.00 and settles there, waiting for more rise to continue the bullish trend inside the bullish channel that appears on chart, supported by the EMA50 that keeps carrying the price from below.

Therefore, we believe that the way is open to head towards our extended targets that reach to 57.50, noting that holding above 53.15 represents the most important condition to continue the expected rise.

Expected trading range for today is between 54.00 support and 57.50 resistance.

Expected trend for today: Bullish


Origin: Economies

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