Brent Oil surpasses the target – Analysis - 26-09-2017

Brent oil price rallied upwards sharply yesterday to succeed reaching our main waited target at 58.37 and breach it to trade above 59.00$ barrier now, which hints that the way is open to achieve more gains on the longer term basis, as the next main target is located at 61.27.

Therefore, we will be waiting for more rise in the upcoming sessions, taking into consideration that breaking 58.37 will stop the expected rise and push the price to start bearish correction on the intraday basis.

Expected trading range for today is between 58.00 support and 61.27 resistance.

Expected trend for today: Bullish