Brent oil awaits the confirmation – Analysis – 12/06/2018

brent_1Brent oil price returns to rise to approach testing the key resistance that declines now to 77.20, to keep the price stuck between the trend confirmation levels represented by the mentioned resistance and 74.23 support, and the contradiction between stochastic and the EMA50 still valid.

We remind you that breaching the resistance will push the price to achieve positive targets that begin at 80.88 mainly, while breaking the support will press on the price to extend the correctional bearish wave and target 72.18 followed by 70.13 levels on the near term basis.

Expected trading range for today is between 75.00 support and 78.00 resistance.

Expected trend for today: Depends on the above mentioned levels

Brent oil awaits the confirmation – Analysis - 12-06-2018

Origin: Economies

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