Brent oil achieves good gains – Analysis – 01/06/2018

neft-l4Brent oil price showed clear positive trades yesterday but it returns to fluctuate around the EMA50, noticing that stochastic gets rid of its negative momentum clearly to approach the oversold areas, to form positive motive that we are waiting to assist to push the price to rise in the upcoming sessions.

Therefore, the bullish trend will remain suggested on the intraday and short term basis conditioned by the price stability above 76.77 level, noting that we are waiting to head towards 80.88 that represents our next main target.

Expected trading range for today is between 76.50 support and 80.00 resistance.

Brent oil achieves good gains – Analysis - 01-06-2018

Origin: Economies

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