Midday update for Brent oil 29-07-2020
Economies.com
2020-07-29 09:26AM UTC
Brent oil price shows positive trades now to approach testing the key resistance 43.85, which represents one of the next trend keys besides 42.75 support, and as we mentioned this morning, breaching this resistance will push the price to achieve more rise and visit 44.80 followed by 46.35 areas mainly, but we need a confirmed breach to the mentioned resistance to confirm continuing the bullish trend.
Therefore, we will continue with our neutrality until the price confirms breaching 43.85 resistance or breaking 42.75 support followed by detecting its next targets clearly.
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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