Brent oil price traded with clear positivity yesterday to head towards testing the critical resistance at 52.71, and the price remains confined between the next trend keys that represented by the mentioned resistance and 50.96 support, waiting for breaching one of them to detect the next trend clearly, which keeps our neutral attitude valid until now.
The contradiction between the EMA50 positivity and stochastic negativity provides another reason for the neutrality, reminding you that breaking 50.96 support will push the price to test 61.8% Fibonacci correction level again at 49.21.
Expected trading range for today is between 50.00 support and 54.00 resistance.
Expected trend for today: Neutral
Origin: Economies
