Midday update for Brent oil 28-07-2020

Economies.com
2020-07-28 09:19AM UTC

Brent oil price hovers around the EMA50, and it didn’t show any strong move since morning, thus, our neutrality will remain valid until the price gets clearer signal for the next trend, through breaching 44.30 resistance or breaking 42.75 support.

 

Note that the expected targets after the breach 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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