Brent oil price could not manage to hold for long time below 43.00 level to close last week above it, to stuck again between the key levels represented by the mentioned level that forms key support now and 43.85 resistance, which makes us return for neutrality until the price confirms breaching one of these levels followed by detecting the next destination clearly.
Note that breaking the mentioned support will reactivate the bearish correction extension scenario that targets 39.96 areas mainly, while breaching 43.85 resistance will motivate the price to achieve intraday and short term gains that their targets begin at 46.76, and extend to attempt to return to the main bullish trend and stop the negative pressure that dominates trading recently.
Expected trading range for today is between 41.00 support and 45.50 resistance.
Expected trend for today: Depends on the above mentioned levels
Origin: Economies
