Brent oil begins negatively – Analysis – 11/07/2018

neft-1Brent oil price opens today’s trading with bearish bias to test the EMA50, while stochastic gains the positive momentum clearly, approaching the oversold areas.

In general, holding above 76.47 keeps the bullish trend scenario active for the upcoming period, as breaking it will put the price under the correctional bearish pressure again, while the waited positive targets begin at 80.48.

Expected trading range for today is between 77.00 support and 80.48 resistance.

Expected trend for today: Bullish

Brent oil begins negatively – Analysis - 11-07-2018

Origin: Economies

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