Brent oil price fluctuates at 72.75 resistance line now, which represents key level to detect the next trend besides 71.20 support, as the price needs to breach one of them to detect its next destination clearly, to continue with our neutrality until now.
The contradiction between the EMA50 positivity and stochastic negativity provides another reason for neutrality, noting that breaching the mentioned resistance will push the price to resume the bullish wave that its next target located at 74.65, while breaking the support will press on the price to turn to decline and visit 69.60 initially.
The expected trading range for today is between 71.00 support and 74.00 resistance.
The expected trend for today: Depends on the above mentioned levels
Origin: Economies
