Midday update for Brent oil 17-05-2019
Economies.com
2019-05-17 10:40AM UTC
Brent oil price settles above 72.65 level, noticing that stochastic attempts to get rid of its negativity and gain the positive momentum on the four hours’ time frame, while the EMA50 provides the positive support to the price.
Therefore, we believe that the chances are valid to continue the bullish bias for the rest of the day, reminding you that our next target is located at 75.60, while the rise will remain valid unless breaking 72.65 followed by 71.35 levels and holding below them.
The expected trading range for today is between 71.00 support and 75.00 resistance.
The expected trend for today: Bullish
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