Brent oil price needs a positive motive – Analysis – 16/04/2021

neft-l4Brent oil price shows sideways trading since yesterday, attempting to provide some calm bullish bias to approach 67.00 barrier, which keeps our bullish overview valid on the intraday and short term basis, which targets 69.00 followed by 70.00 levels mainly.

The EMA50 supports the expected rise, which will remain valid unless breaking 65.15 and holding below it.

The expected trading range for today is between 65.50 support and 68.50 resistance.

The expected trend for today: Bullish

Origin: Economies

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