Brent oil price attempted to breach the rising wedge’s resistance line that rises now to 43.00 without managing to hold above it, to stay stuck between this resistance and 41.80 support, thus, we will continue with our neutrality until breaching one of these levels.
Note that breaching the mentioned resistance will push the price to resume the main bullish trend and head to achieve new gains that start at 45.00, while breaking the support will press on the price to return to the correctional bearish track and achieve negative targets that start by testing 40.80 and extend to 37.86 after surpassing the previous level.
The expected trading range for today is between 41.00 support and 44.00 resistance.
The expected trend for today: Neutral
Origin: Economies
