Midday update for Brent Oil 16-01-2017
Economies.com
2017-01-16 11:58AM UTC
Brent oil price fluctuates within tight range since morning settled near the EMA50, keeping its stability above the bullish flag resistance, while stochastic begins attempts to provide positive signal on the four hours time frame.
Therefore, we will keep our bullish trend expectations valid as they are without any change for today, and its continuation conditioned by holding above 53.55 level, while its main targets begin at 58.37 and reach to 59.88 on the near term basis.
Expected trading range for today is between 54.00 support and 58.37 resistance.
Expected trend for today: Bullish
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