Brent oil price managed to touch our waited target at 81.00 and broke it to close the daily candlestick below it, to hint heading to achieve more decline in the upcoming sessions, but we notice that the price begins today positively to move above the mentioned level, affected by the positivity of the technical indicators, to face contradiction between the technical indicators that makes us prefer to stay aside until the price confirms its situation according to the mentioned level followed by detecting its next destination clearly.
Note that the consolidation above 81.00 will lead the price to build new bullish wave that targets visiting 83.87 initially, while breaking it and holding below it again will push the price to turn to decline and achieve negative targets that reach 77.44 areas on the near-term basis.
The expected trading range for today is between 79.50 support and 83.00 resistance.
The expected trend for today: Neutral
Origin: Economies
