Brent oil price continues to move inside the sideways range that appears on the above chart, waiting to breach one of its lines represented by 48.50 support and 50.20 resistance to be able to detect the next targets clearly, as breaking this support represents the key to extend the bearish correction to target 47.49 areas direct, while breaching the resistance will lead the price to achieve gains that start and 51.20 and extend to 52.83.
Therefore, we will keep our neutrality until getting clearer confirmation signal for the next trend.
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
