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Brent Oil Could Buyers Take It Higher?

MultiBank Exchange Group
By MultiBank Exchange Group

Brent Oil rallied aggressively in the yesterday’s trading session and reached 53.03 static resistance again, which has paused the bullish momentum. Has decreased a little in the morning, but could breakout above the mentioned horizontal obstacle if will stay within the minor ascending channel.

I want to remind you that another rejection followed by a drop below the downside line of the ascending channel will signal a broader towards the $49.00 per barrel.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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