Brent oil price crawls upwards – Analysis – 11/01/2019

neft-l4Brent oil price continues to rise gradually within the bullish channel that appears on the chart, getting continuous positive support by the EMA50, which supports the chances of continuing the rise today, waiting to visit 63.95 that represents our next target.

We should consider that breaking 60.30 will stop the suggested rise and push the price to visit 56.91 areas before any new attempt to rise.

Expected trading range for today is between 60.30 support and 63.00 resistance.

Expected trend for today: Bullish

Brent oil price crawls upwards – Analysis - 11-01-2019

Origin: Economies

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