Brent oil price shows slight bullish bias to test the EMA50, and the price still within the sideways range that its lines represented by 58.40 support and 63.95 resistance, which keeps the sideways move scenario valid until now, waiting to breach one of these levels to detect the next targets on the short term basis.
We remind you that breaking the mentioned support will push the price to continue the main bearish trend that its next negative targets located at 57.77 followed by 56.00, while breaching the resistance will open the way to start recovery attempts that target 70.00 areas mainly.
Expected trading range for today is between 58.40 support and 63.00 resistance.
Expected trend for today: Sideways
Origin: Economies
