Midday update for Brent Oil 24-03-2017
Economies.com
2017-03-24 11:11AM UTC
Brent oil price makes new retest to 50.96 level now, while the EMA50 keeps forming negative pressure against the intraday and short term trading, to keep the bearish trend valid for the rest of the day, targeting visiting 49.21 level mainly.
You should be aware that breaching 50.96 level and holding above it will push the price to test the most important resistance for the short term trading between 52.71 and 53.20 before any new attempt to decline.
Expected trading range for today is between 48.50 support and 52.00 resistance.
Expected trend for today: Bearish
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