Midday update for Brent Oil 21-02-2017
Economies.com
2017-02-21 11:15AM UTC
Brent oil price begin to attach the critical resistance at 56.70 and trades above it now, reinforcing our expectations for the continuation of the bullish trend on the short term basis, which gets positive support from the EMA50 and stochastic, and its initial target located at 58.37, waiting for breaching it to rally towards 60.00 as a next main station.
Therefore, the bullish bias will remain preferred for the rest of the day unless breaking 54.70 level and holding below it.
Expected trading range for today is between 54.70 support and 58.37 resistance.
Expected trend for today: Bullish
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