Commodities

Brent oil price within tight track – Analysis - 19-02-2019

2019-02-19 05:03:53 GMT (Economies.com)

Brent oil price trades are confined within tight range, settling around 66.00$ barrier, and the price continues to move inside the bullish channel that appears on the chart, while the price gets continuous positive support by the EMA50.

 

Therefore, the factors encourage us to continue suggesting the bullish trend for the upcoming period, which conditions holding above 63.95 and 63.10 levels, while our main targets located at 68.00 followed by 72.65.

 

The expected trading range for today is between 65.00 support and 68.00 resistance.

 

The expected trend for today: Bullish

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