Brent oil price rallied upwards strongly yesterday to breach 81.38$ and reach 82.74$, to hint the attempt to stop the bearish correction and return to the main bullish track again, but we notice that the technical indicators provide negative signals that might push the price to decline again.
Therefore, we prefer to stay aside until the price confirms its situation according to 82.74$ level, noting that breaching it will push the price to achieve more gains and head towards 84.11$ as a next positive target, while consolidating below it will push the price to decline again and target 81.38$ again.
The expected trading range for today is between 81.00$ support and 84.40$ resistance.
Trend forecast: Neutral
Origin: Economies
