Brent Oil to extend its race higher towards $92.50 – SocGen Oil Brent Banks
rises around 1% this morning. Strategists at Société Générale expect prices to continue trending higher towards $92.50 and then $95.00/96.30.“Brent is breaking above the peaks of 2018 and October affirming persistence of upward momentum. This is also highlighted by weekly MACD establishing itself within positive territory and attempting a cross above its trigger.”
“Daily Kijun line near $83.50 and $79.00/78.50, the 38.2% retracement from December will be short-term supports.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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