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Brent oil tests the key support – Analysis - 29-03-2018
Brent oil price provided clear negative trading yesterday and attempted to break 69.09 level, but we notice that the EMA50 managed to protect the price from suffering more losses, to push trading above the mentioned level again, to keep the bullish trend scenario valid until now, supported by stochastic positivity.
Therefore, we suggest witnessing positive trading in the upcoming sessions, and the first target is represented by testing 71.36 level, noting that breaking 69.09 will force the price to test the most important support to the short term trading at 67.68 before any new positive attempt.
Expected trading range for today is between 68.50 support and 72.00 resistance.
Expected trend for today: Bullish
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