Midday update for Brent oil 08-12-2017
Economies.com
2017-12-08 10:58AM UTC
Brent oil price showed initial breach to 62.35 level and settles above it, hinting that price head to be released from the correctional bearish pressure and return to rise again, but we need to get daily close above the mentioned level to confirm the continuation of the bullish trend in the upcoming period.
Therefore, we will keep the bearish trend scenario unless the price managed to hold with daily close above 62.35, reminding you that our next target is located at 60.95.
Expected trading range for today is between 59.80 support and 63.35 resistance.
Expected trend for today: Bearish
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