Brent oil – Bulls in control, eyes 100-DMA
Bent’s daily close back inside falling wedge coupled with a bullish 5-DMA and 10-DMA crossover indicates prices are poised to test supply around 100-DMA level of $46.18 levels.
However, short-term loss of momentum following a four-day winning streak cannot be ruled out, thus prices may test 5-DMA level of $44.42 before moving higher.
However, short-term loss of momentum following a four-day winning streak cannot be ruled out, thus prices may test 5-DMA level of $44.42 before moving higher.
