Brent oil price attempted to breach 83.87 but it couldn’t manage to hold above it, to keep the price within the sideways range that its lines represented by the mentioned resistance and 81.00 support, and the technical indicators’ contradiction keeps the sideways bias valid.
Breaching the above-mentioned levels will determine the next destination, noting that surpassing the resistance will lead the price to achieve gains that start at 85.50 and extend to 86.74, while breaking the support represents negative factor that will push the price to suffer losses that reach 77.44 areas on the near-term basis.
The expected trading range for today is between 82.00 support and 85.00 resistance.
The expected trend for today: Sideways
Origin: Economies
