Brent oil price traded with clear positivity yesterday to test the key resistance 43.60 without managing to breach it, which keeps our neutrality valid until now, as the price needs to surpass one of the next trend keys represented by the mentioned resistance and 39.45 support to detect the next destination clearly.
The contradiction between the EMA50 positivity and stochastic negativity offers another reason for neutrality, noting that breaching 43.60 level will support the chances of continuing the bullish wave that moves organized inside the bullish channel that appears on chart, while breaking 39.45 level will provide signals of stopping the current correctional bullish wave to return to the main bearish trend that its targets begin by testing 37.29 followed by 34.65.
Expected trading range for today is between 40.00 support and 45.00 resistance.
Expected trend for today: Depends on the above mentioned levels
Origin: Economies
