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- Brent oil set to race higher towards the $76.38/77.84 zone - Credit Suisse
Brent oil set to race higher towards the $76.38/77.84 zone - Credit Suisse
FXStreet notes that Brent crude oil is rising sharply after finding support at its key rising 200-day moving average (DMA) at $63.81. Strategists at Credit Suisse now expect the black gold to surpass the $72.64 mark.
“Brent Crude Oil has fallen to test and successfully hold key 200-DMA support at $63.81 and our bias remains for this to stay a solid floor.”
“Above $72.64 is needed to add weight to our view to ease the pressure off the 200-DMA for a recovery back to the top of the range at $76.38/77.84.”
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