Brent oil price gathers the positive momentum – Analysis - 12-07-2019
Economies.com
2019-07-12 04:55AM UTC
Brent oil price showed some bearish bias yesterday to approach testing the key support 65.92, starting today with bullish bias in attempt to resume the main bullish trend, as stochastic managed to get rid of its negative momentum and gain the positive momentum on the four hours’ time frame, which supports the chances of continuing the bullish bias in the upcoming sessions.
Therefore, the bullish trend will remain suggested in the upcoming sessions unless breaking 65.92 level and holding below it, noting that our waited targets begin at 68.05 and extend to 69.92.
The expected trading range for today is between 65.92 support and 69.00 resistance.
The expected trend for today: Bullish
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