Brent oil price broke 69.23 level strongly and declined to test the key support 67.92, to face contradiction between the technical factors that makes us prefer staying aside temporarily until the price confirms surpassing one of the mentioned levels followed by detecting its next targets clearly.
Note that breaking the mentioned support will press on the price to continue the bearish correction and visit 66.85 and might extend to 65.80, while breaching 69.23 resistance represents positive factor that will push the price to regain the main bullish trend that targets 71.35 initially.
The expected trading range for today is between 67.00 support and 70.00 resistance.
The expected trend for today: Neutral
Origin: Economies
