Brent oil price reached few pips away from our waited target at 72.06$, and bounced upwards on its way to visit 73.90$ level, noticing that the price loses its positive momentum and might be forced to decline again.
Now, we expect to move within sideways range between the above mentioned levels, waiting to breach one of them to detect the next destination clearly, noting that breaking the mentioned support will push the price to resume the negative trades that target 71.00$ followed by 70.00$ levels mainly, while breaching the resistance represents the key to build bullish wave that its next target reaches 75.36$.
The expected trading range for today is between 71.70$ support and 74.90$ resistance.
Trend forecast: Sideways
Origin: Economies
