Brent oil price provided clear positive trades yesterday to test 105.05 level, as it ended trades there, to hint the attempt to head to recover in the upcoming sessions, but it faces negative factors coming by the EMA50 and stochastic.
Therefore, this contradiction between the technical factors makes us prefer to stay neutral until the price confirms its situation according to the mentioned level, noting that consolidating below it will press on the price to decline again and head towards 98.85 initially, while breaching it will lead the price to recover and visit 110.05 areas on the near term basis.
The expected trading range for today is between 102.00 support and 107.50 resistance.
The expected trend for today: Neutral
Origin: Economies
