Midday update for Brent oil 30-07-2020

Brent oil price returns to fluctuate around 43.30, and it didn’t show any strong move since morning, thus, we will continue with our neutrality until the price confirms breaking 42.75 support or breaching 43.85 resistance to detect the next destination clearly.

We remind you that breaking the support is considered as a negative key that will press on the price to head towards 41.25 followed by 39.44 levels mainly, while breaching the resistance will open the way to resume the main bullish trend and achieve positive targets that start at 44.80 and extend to 46.35.

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

The expected trend for today: Neutral