Midday update for Brent oil 13-09-2018

Brent oil price shows some bearish bias on its way to test 78.20 level, accompanied by stochastic gaining the positive momentum clearly and approaching the oversold areas, noting that the EMA50 meets the mentioned support to add more strength to it.

Therefore, we will keep our bullish overview conditioned by the price stability above 78.20, reminding you that our main targets begin at 80.48 and extend to 82.93 after breaching the previous level.

Expected trading range for today is between 78.00 support and 81.00 resistance.

Expected trend for today: Bullish