The publication of strong data from China spurred on imports of oil to rise.Previously, support for the "black gold" has a report from shtatovskih Petroleum Institute, claiming to reduce stocks of raw materials at the fastest pace in 30 years.
Brent crude oil prices remain in the "green" zone on Thursday. The tool was trading near the recent highs at 48.88. Price tested the 100 EMA on the 4-hour chart. 100 EMA stopped the price, which rebounded from it. 100 EMA and the 200 EMA are neutral, 50 EMA is directed to the south. Resistance is located at 48.50 and support - to 47.50 dollars per barrel.
MACD remained in the positive zone. RSI moved away from the overbought area.
Oil is forecast for today
Price can roll back below 48.50. However, the overall sentiment bearish. Target customer is the level of 49.50.
Research Fort Financial Services