Brent oil touches the psychological barrier – Analysis - 12-01-2018
Economies.com
2018-01-12 04:57AM UTC
Brent oil price touched 70.00$ per barrel barrier and bounced downwards calmly from there, heading towards testing the key support base formed above 68.55, noticing that stochastic gains the positive momentum clearly, while the EMA50 meets the mentioned support to add more strength to it.
Therefore, we believe that the chances are valid to resume the main bullish trend in the upcoming period, noting that our next main target is located at 71.10, while the price needs to hold above 68.55 to guarantee achieving the suggested targets.
Expected trading range for today is between 68.00 support and 71.10 resistance.
Expected trend for today: Bullish
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