Brent oil price ended yesterday below 20.76 level, but it begins today with bullish bias in attempt to step above it, supported by stochastic positivity, which makes us prefer staying aside until the price confirms its situation according to the mentioned level followed by detecting its next destination clearly.
Note that confirming the breach and holding above 20.76 will push the price to achieve gains that start by visiting at 20.76, while failing to breach will put the price under the negative pressure again, to head towards visiting 18.65 followed by 15.95 areas on the near term basis.
The expected trading range for today is between 18.00 support and 23.00 resistance.
The expected trend for today: Neutral
Origin: Economies
