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Brent Oil awaits the bullish rebound – Analysis - 20-10-2017
Brent oil price settled at the EMA50 after the decline that it witnessed yesterday, noticing that stochastic begins to provide positive signals within the oversold areas, to form positive motive that we are waiting to push the price to resume the main bullish trend, organized inside the bullish channel that appears on chart.
Therefore, we are waiting for positive trading in the upcoming sessions, to start the positive targets at 59.48 and extend to 61.25, taking into consideration that the continuation of the suggested bullish wave conditions holding above 55.91.
Expected trading range for today is between 55.91 support and 59.48 resistance.
Expected trend for today: Bullish
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