Brent oil price traded with clear negativity yesterday to reach 72.06$ support line, and returns to move at 73.00$ barrier now, and it might provide additional positive trades to test the sideways range’s resistance line at 73.90$.
Until now, the sideways range still dominant on the intraday trades until the price manages to surpass one of the above mentioned levels, reminding you that breaching the mentioned resistance will push the price to achieve intraday gains that start by visiting 75.36$ areas, while breaking the support represents negative factor that will push the price to suffer intraday losses that start at 71.00$ and extend to 70.00$.
The expected trading range for today is between 71.50$ support and 74.50$ resistance.
Trend forecast: Sideways
Origin: Economies
