Brent oil price continued to rise to test 74.30 level, noticing that the price attempts to breach it, to hint the attempt to build bullish wave on the intraday basis and achieve gains in the upcoming sessions, noting that the technical indicators provide negative signals that might prevent the price from continuing the rise.
Therefore, the contradiction between the technical indicators makes us prefer to stay aside until we get clearer signal for the next trend, noting that confirming breaching 74.30 will push the price to achieve positive targets that start at 75.55 and extend to 76.80, while consolidating below it will push the price to resume the bearish trend that its next main target located at 70.15.
The expected trading range for today is between 72.60 support and 76.00 resistance.
The expected trend for today: Neutral
Origin: Economies
