Midday update for Brent oil 18-12-2019

Crude oil price approaches testing the intraday bullish channel’s support line, accompanied by stochastic getting rid of the positive momentum and reaching the thresholds of the oversold areas, waiting to motivate the price to resume the expected bullish trend on the intraday and short term basis, which its targets extend to 62.30 after surpassing the 60.90 level, reminding you that it is important to hold above 59.95 to continue the expected rise.

The GBPUSD pair retests the broken support of the bullish channel and still below it, to keep the correctional bearish pressure suggested for today, which depends on the price stability below 1.3150, reminding you that our next main target reaches 1.2920.

The EURUSD pair tested the intraday bullish channel’s support line and keeps its stability above it until now, accompanied by stochastic reach to the oversold areas, while the EMA50 meets the mentioned support to protect trading inside the bullish channel.