Brent oil price resumes rising – Analysis – 10/09/2018

a-1Brent oil price tested the main bullish channel’s support line and bounced upwards quickly from there, to settle above the key support 76.47, on its way to test the key resistance 78.20, and the price needs to breach this level to confirm extending the bullish wave towards the previously recorded top at 80.48.

Therefore, we will continue to suggest the bullish trend depending on the organized trading inside the bullish channel that appears on the chart, noting that the positive outlook conditions holding above 76.47 and 75.80 levels.

Expected trading range for today is between 76.00 support and 79.00 resistance.

Expected trend for today: Bullish

Brent oil price resumes rising – Analysis - 10-09-2018

Origin: Economies

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