Brent oil price within positive pattern – Analysis – 20/11/2020

neft-l4Brent oil price’s recent trades are confined within symmetrical triangle that its signs appear on the chart, which means that breaching 44.75 will form good positive motive that supports the expectations of continuing the bullish trend on the intraday and short term basis and open the way to surpass our first positive target at 45.25 to head towards 47.70 as a next station.

Therefore, our bullish overview will remain valid and active for the upcoming period unless breaking 43.00 and holding below it.

The expected trading range for today is between 43.00 support and 46.00 resistance.

The expected trend for today: Bullish

Origin: Economies

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