Brent Oil – 16.09.2016
Note: Our price target was hit on 22.09.2016
On our previous analysis, we stated that Brent Oil price would jump to $50, but to expect a drop from this level. This has happened precisely so far; Brent Oil is trading at $47.15 at the moment.
So is the rally over? Shall we expect further drops at Brent Oil price?
We believe the drop will be limited at this stage. The secure buying area would be considered between $45.75 – 46.25. From this buying area, we may see a spike to $47.50.
Once our target prices are met, we will update our analysis.
This cannot be considered an investment advice!