Midday update for Brent oil 03-08-2020

Economies.com
2020-08-03 09:41AM UTC

Brent oil price provides negative trades to head towards testing the key support 42.75, which represents one of the key levels besides 43.85 resistance, as the price needs to surpass one of these levels to detect its next destination clearly, to continue with our neutrality until we get clearer signal for the next trend.

 

Note that the details of the expected targets after breaching one of the above mentioned levels are explained in our morning report.

 

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

 

The expected trend for today: Neutral

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