Brent oil price awaits the confirmation – Analysis - 29-07-2020

Brent oil price continues to fluctuate around 43.30 level, and we still waiting to get clearer signal for the next trend, thus, we will continue with our neutrality until the price manages to break 42.75 support or breach 43.85 resistance.

Note that breaching the resistance will push the price to attempt to regain the main bullish trend and achieve positive targets that start at 44.80 and extend to 46.35, while breaking the support represents negative factor that will press on the price to visit 41.25 and might extend to 39.44 before any new attempt to rise.

The expected trading range for today is between 42.00 support and 45.00 resistance.

The expected trend for today: Neutral