Midday update for Brent oil 30-05-2023
Economies.com
2023-05-30 09:18AM UTC
Brent oil price trades with strong negativity to start pressing on the key support 75.80, to stop the morning suggested positive scenario and head towards potential decline, and we prefer to stay aside until we get clearer signal for the next trend, through breaking 75.80 support or breaching 76.80 resistance.
Note that breaking the mentioned support will push the price to suffer additional losses that reach 74.30, while breaching the resistance represents the key to reactivate the positive scenario that its next target located at 78.90.
The expected trading range for today is between 74.80 support and 77.00 resistance.
The expected trend for today: Neutral
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