Brent oil price approaches the target – Analysis – 13/09/2018

forex_news_neftBrent oil price resumed its positive trading on yesterday’s evening to approach our main waited target at 80.48, and it returns to decline now to move near 79.00 barrier, noticing that the EMA50 keeps supporting the price from below, while stochastic begins to get rid of its negative momentum.

Therefore, the overall bullish trend will remain valid for the upcoming period, depending on the price stability above 78.20, noting that breaching 80.48 will extend Brent oil price gains to reach 82.93.

Expected trading range for today is between 78.00 support and 81.00 resistance.

Expected trend for today: Bullish

Brent oil price approaches the target – Analysis - 13-09-2018

Origin: Economies

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