Brent oil price recovers – Analysis – 27/03/2019

Brent_newsBrent oil price provided positive trades in the previous sessions to return to the bullish channel that appears on the chart, which pushes the price to resume the main bullish track and resume the negative pressure that dominated the recent trades, waiting for more rise on the intraday and short term basis, targeting visiting 70.00 followed by 72.65 levels mainly.

The EMA50 supports the suggested bullish wave, taking into consideration that breaking 67.35 will stop the expected rise and put the price under the negative pressure again.

The expected trading range for today is between 67.00 support and 70.00 resistance.

The expected trend for today: Bullish

Brent oil price recovers – Analysis - 27-03-2019

Origin: Economies

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