Midday update for Brent oil 12-02-2018

Brent oil price attempted to breach 64.00 level but it didn’t settle above it, to keep the price confined between the next trend keys represented by the mentioned resistance and 61.71 support, thus, we will continue with our neutrality until we get clearer signal for the next trend.

The details of the expected targets after the breach are explained in our morning report, noting that the contradiction between stochastic positivity and the EMA50 negativity still valid, providing another reason for neutrality.

Expected trading range for today is between 62.00 support and 65.40 resistance.

Expected trend for today: Depends on the above mentioned levels