Brent oil price hits the first target – Analysis - 21-11-2023

Economies.com
2023-11-21 04:10AM UTC

Brent oil price resumed its positive trading clearly to succeed achieving our first waited target at 82.25, and we suggest the continuation of the bullish bias to visit 83.87 as a next main target, supported by moving above the EMA50.

 

Stochastic current negativity might cause some temporary sideways fluctuation before resuming the positive trades, which will remain valid unless breaking 81.00 and holding below it.

 

The expected trading range for today is between 81.20 support and 84.20 resistance.

 

The expected trend for today: Bullish

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