Brent Oil gets positive motive – Analysis - 18-01-2017
Economies.com
2017-01-18 04:20AM UTC
Brent oil price bounced lower after approaching from 57.00 barrier yesterday, to move near the EMA50 again, noticing that stochastic enters the oversold levels to form positive motive that we wait to assist to push the price to rise again.
Therefore, the bullish trend will remain valid for today conditioned by holding above 54.90 and the most important above 53.75, reminding you that the targets of the current bullish wave begin at 58.37 and extend to 59.88 after breaching the previous level.
Expected trading range for today is between 54.00 support and 58.37 resistance.
Expected trend for today: Bullish
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