Brent oil price shows new test to the key resistance that declines now to 76.77, accompanied by stochastic reach to the overbought areas, which supports the chances of bouncing bearishly to head towards a potential test to the key support 74.23.
Therefore, we will continue with our neutrality until the price manages to breach one of the mentioned levels, reminding you that breaking the support will put the price under negative pressure that targets 72.18 followed by 70.13 levels mainly, while breaching the resistance will open the way to achieve gains on the intraday and short term basis, to start the positive targets at 80.88.
Expected trading range for today is between 75.00 support and 78.00 resistance.
Expected trend for today: Depends on the above mentioned levels
Origin: Economies
