Brent oil price rallied upwards strongly yesterday to breach 81.80 and head towards potential test to the most important resistance at 83.87, while stochastic provides negative signals that might hinder the mission to continue the rise, to face contradiction between the technical indicators that makes us prefer to stay aside until we get clearer signal for the next trend.
Note that breaching 83.87 resistance will lead the price to achieve more rise and head towards 85.05 followed by 86.74 levels as main positive targets, while breaking 82.10 support represents the key to resume the bearish trend that its targets begin at 81.00 and extend to 79.45 after breaking the previous level.
The expected trading range for today is between 81.00 support and 84.50 resistance.
The expected trend for today: Neutral
Origin: Economies
