Midday update for Brent Oil 25-05-2017
Economies.com
2017-05-25 10:53AM UTC
Brent oil price provided clear negative trading this morning to approach from testing the key support 52.71, but it returns to rise and settle inside the bullish channel that appears on chart, which keeps the bullish trend scenario active for today, targeting testing 54.87 level initially.
We remind you that breaching the mentioned level will extend the bullish wave towards 58.36 as a next main station, while holding above 52.71 represents key condition to continue the expected rise.
Expected trading range for today is between 53.00 support and 56.50 resistance.
Expected trend for today: Bullish
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