Brent oil price surpasses the first target – Analysis - 17-09-2020

Brent oil price rallied upwards strongly yesterday to surpass our first target at 42.17 and settles above it, reinforcing the expectations of continuing the bullish trend, which its next target located at 43.00.

The EMA50 continues to support the price from below, while stochastic gains the positive momentum gradually, to support the chances of achieve more expected gains in the upcoming sessions, noting that surpassing 43.00 will push the price to 43.84 as a next positive station, while the expected rise will remain valid conditioned by the price stability above 42.17 and the most important above 41.14.

The expected trading range for today is between 41.00 support and 43.84 resistance.

The expected trend for today: Bullish