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Technical Analysis

Brent Oil Targeting New Highs

Typography

Brent Oil resumes the upside movement and should approach and hit the median line (ML) of the major ascending pitchfork in the upcoming days. Price ignored the higher Crude Oil Inventories and is almost to reach the $57.00 per ounce. The median line (ML) is acting as a magnet and attracts the price, actually, it could be attracted by the confluence area formed at the intersection between the ML with the 250% Fibonacci line.

Author: MultiBank Exchange Group Website: http://www.mexgroup.com
MultiBank Exchange Group
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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