Brent oil price around the moving average – Analysis - 12-11-2019
Economies.com
2019-11-12 05:44AM UTC
Brent oil price hovers around the EMA50, and still stable below the key resistance 62.50, thus, our bearish overview will remain active for the upcoming period, which targets visiting 59.60 mainly.
We should note that breaching 62.50 and holding above it will stop the negative scenario and push the price to continue rising inside the bullish channel that appears on the chart, which has positive targets that begin at 64.25 and extend to 65.40.
The expected trading range for today is between 59.60 support and 62.50 resistance.
The expected trend for today: Bearish
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