Oil prices, a return to $80 per barrel - Uniglobe Markets

Oil prices, a return to $80 per barrel

Posted on April 16, 2018 at 08:28 AM

The price of oil barrel traded above 65.00 levels this week, and the possibility of extension the upward trend the next week targeting in light a trading above the level mentioned.

Stability above 65.00 and trading without any correction is a big possibility to make the oil price to trade for a specified period below the level of 65.00 with a possibility to return and targeting 80.00 levels.

Our expectation for next is neutral, and the rate of oil price trading between the levels of 65.00 and 60.00 is a greater probability than rising towards new levels.

  • Support: 65.00 – 60.00 – 58.00
  • Resistance: 67.00 – 75.00 – 80.00

Price trend: sideways between 65.00 and 60.00, with the possibility of rising above 67.00 to target a price that we did not see since 2014.

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