Brent oil price provided new positive trades to fluctuate around the EMA50, accompanied by stochastic loss to the positive momentum and reaching the overbought areas, which forms negative pressure that might push the price to test 69.62 areas again.
Until now, our neutrality still valid until the price succeeds to breach one of the key levels represented by 69.62 support and 71.10 resistance, reminding you that breaking this level will extend the correctional bearish wave to reach 65.92 as a next main station, while breaching the resistance will push the price to resume the main bullish trend that its first main target located at 75.60.
The expected trading range for today is between 69.00 support and 72.50 resistance.
The expected trend for today: Neutral
Origin: Economies
