Brent oil price continued its decline to test 68.00 barrier, but it bounced upwards strongly to settle around the key level 69.62, which represents important key to determine the next trend, as breaching it and holding above it will lead the price to achieve additional gains and visit 72.65 areas on the near term basis, while failing to breach will put the price under the negative pressure again to head towards 65.92 mainly.
Therefore, we will continue with our neutrality until the price confirms its situation according to 69.62 level based on the daily close to this level.
The expected trading range for today is between 68.00 support and 71.00 resistance.
The expected trend for today: Neutral
Origin: Economies
