Quick Technical Overview - Brent Crude Oil: intra-day ranging; daily bullish breakout to be started

Quick Technical Overview - Brent Crude Oil: intra-day ranging; daily bullish breakout to be started

1 December 2016, 11:18
Sergey Golubev
9
173

The intra-day price is located abobe 200 SMA/100 SMA for the bullish market condition: the price is trying to break 52.63 resistance level for the bullish trend to be continuing.



  • If the price breaks 52.63 resistance level on close H4 bar so the bullish trend will be continuing.
  • If price breaks 52.40 support on close H4 bar to below so the secondary ranging within the primary bullish trend will be started for the intra-day price movement during the some very short period of time.
  • If not so the price will be ranging within the levels.
Resistance
 Support
52.6352.40
53.7149.57
N/A46.95

 

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