Brent oil price provided positive trades yesterday and returned to fluctuate around the EMA50, to remain confined inside the sideways range that appears on the chart, and the technical indicators show contradiction that supports the continuation of the sideways trades’ domination on the intraday basis, while the price needs to breach 83.87 resistance or break 81.00 support line to confirm its next destination clearly.
Note that breaching the mentioned resistance will lead the price to resume the bullish wave on the intraday basis and head to achieve gains that start at 85.00, while breaking the support represents the key to turn to decline to target 79.30 followed by 77.44 levels as next negative stations.
The expected trading range for today is between 81.70 support and 84.80 resistance.
The expected trend for today: Sideways
Origin: Economies
