Brent oil price opened today’s trading with big bullish gap to approach 71.00$ barrier, but it returns to fluctuate below 68.95 level, as the price shows mixed trades affected by the Irani missile attack on the US military base in Iraq, which might cause more volatility in the upcoming sessions.
Therefore, we prefer staying aside today until we get clearer signal for the next trend and the price move settles technically, noting that the price consolidation below 68.95 will lead trades to decline again and head towards 65.40 areas, while breaching that level will open the way to achieve new rises that reach 74.73.
The expected trading range for today is between 67.00 support and 71.00 resistance.
The expected trend for today: Neutral
Origin: Economies
