Midday update for Brent oil 17-05-2018
Economies.com
2018-05-17 09:03AM UTC
Brent oil price settles above the bullish channel’s resistance that appears on the chart, getting continuous positive support by the EMA50, to keep the bullish trend scenario valid for the rest of the day, which its next target located at 80.65, while achieving it conditions holding above 78.00.
Note that stochastic current negativity might cause some temporary fluctuation before resuming the expected rise.
Expected trading range for today is between 78.00 support and 81.00 resistance.
Expected trend for today: Bullish
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