Brent oil price provided positive trades yesterday and surpass 42.00$ barrier, which is considered as a positive signal to head to regain the main bullish track, but we notice that the recent trades confined inside a rising wedge pattern that its signs appear on the chart, which might force the price to decline again and resume the correctional bearish trend.
Therefore, we will continue with our neutrality until we get clearer signal for the next trend, noting that breaking 41.45 will complete the mentioned negative pattern and press on the price to head towards 37.86 areas mainly, while breaching 42.90 will motivate the price to continue the main bullish trend and achieve positive targets that start at 45.00 mainly.
The expected trading range for today is between 40.50 support and 43.38 resistance.
The expected trend for today: Neutral
Origin: Economies
