1. As a result of terrorist attacks last weekend on Saudi ARAMCO reservoirs followed by an official declaration from Saudi government regarding expected shortage in market, it is strongly expected that prices will suffer from enormous increase starting from this week. Also, GP Morgan has expected that Brent prices may hit $189.00 next weeks.
2. Prices closed last week @ $116.11 accompanied with low falling volume from traders @ 2.24k operations. Due to last week attacks, it is possible for market to start with high buying volume this week.
3. Technically, prices allocated above the VWAP line with minor resistant from EMA50 (blue curve). This is a good evidence regarding continual up rending of prices these dats.
4. Prices ended last week sessions fluctuating around the minor resistant from the pivot line @117.7x. Breaking the pivot line (orange dotted) with strong buying volume means prices will gradually hit targets calculated by Fib pattern.
4. Back price retracements, which is an excluded option as discussed in point#1, assured that prices will keep their positioning inside the major (red) resistance zone due to support from EMA20 (green curve), VWAP (bold white curve), EMA100 (light white curve), and Fib 50% level.
5. Prices will get support from 50% level over $114.5x and overall resistant from $117.7x and below $119.2x.
2. Prices closed last week @ $116.11 accompanied with low falling volume from traders @ 2.24k operations. Due to last week attacks, it is possible for market to start with high buying volume this week.
3. Technically, prices allocated above the VWAP line with minor resistant from EMA50 (blue curve). This is a good evidence regarding continual up rending of prices these dats.
4. Prices ended last week sessions fluctuating around the minor resistant from the pivot line @117.7x. Breaking the pivot line (orange dotted) with strong buying volume means prices will gradually hit targets calculated by Fib pattern.
4. Back price retracements, which is an excluded option as discussed in point#1, assured that prices will keep their positioning inside the major (red) resistance zone due to support from EMA20 (green curve), VWAP (bold white curve), EMA100 (light white curve), and Fib 50% level.
5. Prices will get support from 50% level over $114.5x and overall resistant from $117.7x and below $119.2x.