Brent oil price tested the key resistance 47.49 yesterday but without managing to breach it, and as we mentioned in our recent reports, this level represents one of the next trend keys besides 45.21 support, as the price needs to breach one of these levels to detect its next targets clearly.
Therefore, we will continue with our neutrality until we get clearer confirmation signal for the next trend, reminding you that breaching 47.49 will lead the price to continue achieving gains that extend to 48.91 followed by 51.20 mainly, while breaking 45.21 level will push the price to suffer more losses that reach to 43.79.
Expected trading range for today is between 45.00 support and 49.50 resistance.
Expected trend for today: Depends on the above mentioned levels
Origin: Economies
