The sideways range continues to dominate Brent oil price trading as appears on chart, which its lines represented by 48.50 support and 50.20 resistance, and as we mentioned in our recent reports, the price needs to breach one of these levels to detect its next targets clearly, which makes us continue with our neutrality until we get clearer confirmation signal.
We remind you that breaching 50.20 level will allow the price to resume the main bullish trend that was stopped for some bearish correction recently, as the positive targets begin at 51.20 followed by 52.83, while breaking 48.50 support represents negative factor that will push the price to test 47.49 areas before any new attempt to rise.
Expected trading range for today is between 47.00 support and 52.00 resistance.
Expected trend for today: Depends on the above mentioned levels
Origin: Economies
