Brent oil price approaches the target – Analysis - 18-02-2021

2021-02-18 05:08:45 GMT (Economies.com)
 

Brent oil price opens today’s trading with new strong rise to approach our waited positive target at 66.00, and we expect the continuation of the bullish wave on the short term and medium term basis to target 67.55 as a next main station.

 

Therefore, the bullish trend scenario will remain valid for the upcoming period, supported by the EMA50 that protects trading inside the bullish channel that appears on the chart, noting that breaking 64.45 will stop the bullish rally and press on the price to achieve some temporary bearish correction before turning back to rise again.

 

The expected trading range for today is between 64.00 support and 66.50 resistance.

 

The expected trend for today: Bullish

 
 
 
  Symbol Last Change Chg.%
1.2011
-0.0015
0.1260%
1.3856
-0.0097
0.6952%
Tadawul
10127.90
18.31
0.18%
26.158
0.366
1.421%
61.590
-1.588
2.514%
65.46
0.13
0.20%
1780.890
9.440
0.533%
 
 
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