Brent oil price trades negatively after testing the key resistance 77.20, on its way to visit 74.23 support, as these levels represent the next trend keys, and the price needs to surpass one of them to detect the next destination clearly.
Therefore, we will continue with our neutrality until we get a clearer signal for the next trend, reminding you that breaking the mentioned support will complete forming negative pattern that has targets that reach 72.18 followed by 70.13 on the near term basis, while breaching the resistance will motivate the price to regain the main bullish trend that its next target located at 80.88.
Expected trading range for today is between 74.00 support and 77.00 resistance.
Expected trend for today: Depends on the above mentioned levels
Origin: Economies
