Brent oil price suffered strong losses yesterday after breaking 110.05 level, and reached 106.80 level, noticing that the price starts today with clear rise to approach testing 110.05 level now, hinting the attempt to regain the bullish trend again.
We prefer to stay aside temporarily until the price confirms its situation according to the last level, noting that breaching it will push the price to continue the rise and head towards 115.10 areas on the near term basis, while consolidating below it will press on the price to decline again to target 105.05 mainly.
The expected trading range for today is between 105.05 support and 113.00 resistance.
Origin: Economies
