Brent oil price within tight track – Analysis – 19/10/2020

a-1Brent oil price shows sideways and tight trades in the previous sessions, settling near 43.00 barrier, and as long as the price is above 42.50, our bullish overview will remain valid for the upcoming period, supported by the EMA50, waiting to head towards 44.10 followed by 46.43 levels as next main targets.

We should note that breaking 42.50 will stop the expected rise and press on the price to decline towards 40.00 before any new attempt to rise.

The expected trading range for today is between 41.80 support and 44.30 resistance.

The expected trend for today: Bullish

Origin: Economies

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