Brent oil negotiates the resistance – Analysis - 17-5-2018
Economies.com
2018-05-17 01:57AM UTC
Brent oil price rallied higher clearly yesterday to begin breaching attempts to the bullish channel that appears in the image, reinforcing the expectations for achieving gains in the upcoming period, easing the way towards 80.65 level as a next main station.
Therefore, the bullish trend will remain preferred on the intraday and short term basis, supported by the EMA50, pointing that holding above 78.00 represents an important condition for the continuation of 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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