Brent oil price tests the support – Analysis - 12-12-2019
Economies.com
2019-12-12 05:47AM UTC
Brent oil price provided clear negative trades to test the key support 62.50 and rebounds downwards quickly from there, which keeps the bullish trend scenario valid and active until now, supported by the EMA50 that continues to carry the price from below, waiting to get enough positive motive to push the price towards 65.40 as a next target.
Therefore, we will continue to suggest the bullish trend unless we witnessed clear break to 62.50 and holding with a daily close below it.
The expected trading range for today is between 62.50 support and 65.40 resistance.
The expected trend for today: Bullish
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