Brent oil price tests the moving average – Analysis - 15-01-2019
Economies.com
2019-01-15 04:51AM UTC
Brent oil price provided more negative trades yesterday to test the EMA50, waiting to surpass this barrier that forms good support now at 58.85 to ease the mission of heading towards our main expected target at 56.91.
In general, we will continue to suggest the bearish trend in the upcoming period, noting that breaching 60.50 will stop the expected decline and lead the price to start recovery attempts that target 63.95 areas initially.
Expected trading range for today is between 57.50 support and 61.00 resistance.
Expected trend for today: Bearish
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