Brent oil price tests the moving average – Analysis - 19-06-2019
Economies.com
2019-06-19 04:37AM UTC
Brent oil price provided clear positive trades yesterday to test the EMA50 around 61.50, and the pirce still confined inside the sideways range that its signs appear on the chart, which its lines represented by 59.93 support and 62.92 resistance, to continue moving within sideways track on the intraday basis.
Note that breaking the above mentioned support will push the price to visit 76.4% Fibonacci correction level at 56.23 as a next main station, while breaching the resistance will lead the price to start attempts to regain the main bullish trend again, targeting 65.92 areas initially.
The expected trading range for today is between 60.00 support and 63.00 resistance.
The expected trend for today: Sideways
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