Midday update for Brent oil 14-07-2017
Economies.com
2017-07-14 10:38AM UTC
Brent oil price trades with clear positivity now after leaning on the key support base formed above 48.28 after breaching it previously, waiting for more rise that gets continuous positive support by the EMA50, waiting to test 49.50 level initially.
Therefore, the bullish trend will remain valid for today conditioned by holding above 46.78 and 46.41 levels, noting that breaching the targeted level will extend the bullish wave towards 50.72 direct.
Expected trading range for today is between 47.00 support and 50.72 resistance.
Expected trend for today: Bullish
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