The market is likely going to continue to decline towards 62.00 level. The next supports in line are seen at 61.80 and 60.50. OIL 61.80 level H4 200 ma Moving Average, So Oil Take a Buy position 61.00 and 60.50 Area. OIL Daily 200 ma Moving Average 62.60 level breakout and stable this level short Sell 62.50/62.00 level take profit 61.90 and 61.50 Area.
Crude Oil Brent
Latest price 61.64, bullish 1-month time-frame.
Target $70.00 for 13%.
Although AUD Vantages isn't particularly confident in the pick Crude Oil Brent against the US Dollar at this early stage in up-trend there are supporting evidences the up-trend will mature. Evidence includes the US Dollar pulling back, Crude Oil Brent being under 1-year...
Trend - Bullish
Indicator - 52 Week High
Chart - Weekly
Strategy - Long term bull move
Target - Should reach $13.25 before too much pressure
Exit - Will exit if pair closes with a touch of the 52 week low.
Crude oil price resumes its positive trading in attempt to move away from 60.00 barrier, to keep the bullish trend scenario active on the intraday and short term basis, supported by the EMA50, reminding you that next target is located at 62.30, while holding above 59.00 represents key condition to continue the suggested rise.