Brent crude oil price rose due to stability of critical support level at $67.50
Positive momentum assisted gains, with emergence of positive signals on RSI
Price affected by breaking bullish trend line on short-term basis, trading below EMA50 forming dynamic resistance
The (Brent) price rose in its last intraday trading, due to the stability of the critical support level at $67.50, providing positive momentum that assisted it to achieve these gains, with the emergence of the positive signals on the (RSI), after reaching oversold levels.
This performance comes amid the price’s affection by breaking bullish trend line on the short-term basis, with the continuation of the negative pressure that comes from its trading below EMA50, forming dynamic resistance that prevents any recovery attempt on the near-term basis.
