Brent oil price awaits more gains – Analysis – 10/12/2019

brent_1Brent oil price settles around 63.60 level, and the price still inside the bullish channel that carries trading from 56.00 areas, which keeps the bullish trend scenario active for the upcoming period, waiting to test 65.40 level as a next main target.

Therefore, our bullish overview will remain valid and active for the upcoming period, conditioned by the price stability above 62.50 level, noting that the EMA50 continues to support the suggested bullish wave.

The expected trading range for today is between 62.50 support and 65.40 resistance.

The expected trend for today: Bullish

Origin: Economies

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