Midday update for Brent oil 26-06-2017
Economies.com
2017-06-26 09:55AM UTC
Brent oil price fluctuates around the bearish channel's resistance since morning, facing negative pressure formed by the EMA50 and stochastic, while we still believe that the chance is valid to visit 47.05 areas unless breaking 45.55 level and holding below it, as breaking this level will push the price to resume the bearish bias that its next target located at 42.72.
On the other hand, note that breaching 47.05 will push trading to head towards 49.21 on the near term basis.
Expected trading range for today is between 44.50 support and 48.00 resistance.
Expected trend for today: Bullish
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