Midday update for Brent Oil 09-12-2016
Economies.com
2016-12-09 11:04AM UTC
Brent oil price surpassed 54.00 barrier and settled above it, to build good support base that reinforce the chances of continuing the bullish bias in the upcoming period, which gets continuous support by the EMA50.
Therefore, we believe that the chances are valid to provide more bullish bias on the short term and medium term basis, reminding you that our next main target is located at 56.59, which achieving it conditions holding above 52.83.
Expected trading range for today is between 52.00 support and 56.00 resistance.
Expected trend for today: Bullish
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