Brent oil price reaches the first target – Analysis - 14-03-2019

Brent oil price resumed its positive trading clearly to reach the thresholds of our first waited target at 68.00, reinforcing the expectations of continuing the bullish trend on the intraday and short term basis, supported by the EMA50 that carries the price from below, reminding you that breaching the mentioned level will extend the bullish wave to reach 72.65 as a next station.

Note that holding above 66.40 is important to achieve the suggested targets, as breaking it will press on the price to test 65.50 and might extend to 63.95 levels before any new attempt to rise.

The expected trading range for today is between 66.40 support and 70.00 resistance.

The expected trend for today: Bullish