Commodities

Brent oil price resumes rising – Analysis - 19-04-2019

2019-04-19 04:00:14 GMT (Economies.com)

Brent oil price returns to rise after testing the EMA50 yesterday, which keeps the bullish trend scenario valid and active for the upcoming period, as the price approaches our first waited target at 72.65, reminding you that breaching this level will extend the bullish wave to reach 75.10 as a next main station.

 

The bullish channel that appears on the chart keeps organizing the suggested bullish wave, noting that breaking 70.80 might press on the price to test 69.60 areas before any new attempt to rise.

 

The expected trading range for today is between 70.80 support and 74.00 resistance.

 

The expected trend for today: Bullish

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