Brent oil approaches the first target – Analysis – 30/08/2018

forex_news_neftBrent oil price rallied upwards strongly yesterday to approach our first waited target at 78.00, reinforcing the expectations of achieving more gains in the upcoming period, noting that our next target reaches the previously recorded top at 80.48.

Therefore, we are waiting for more rise on the intraday and short term basis, noting that holding above 76.47 is important to continue the positive overview, as breaking it might push the price to test 75.10 followed by 74.00 areas before any new attempt to rise.

Expected trading range for today is between 76.47 support and 79.50 resistance.

Expected trend for today: Bullish

Brent oil approaches the first target – Analysis - 30-08-2018

Origin: Economies

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