Brent oil price managed to achieve our negative target suggested in our last report at 105.05, noticing that the price bounced upwards strongly from there to test the key resistance 110.05, which consolidates against the positive trades, which hints heading to decline in the upcoming sessions and visit 105.05 again.
Therefore, we expect to witness new negative trades today, noting that breaching 110.05 will stop the expected decline and lead the price to turn to rise.
The expected trading range for today is between 105.05 support and 112.00 resistance.
Origin: Economies
