On June 14, analysts at Economies have the latest opinion today: Brent crude oil prices continue to rise, testing 74.30, noting that the price is trying to break through this level, suggesting an attempt to establish an upward trend today and realize it in the next few sessions. But technical indicators provided bearish signals that could prevent prices from continuing higher.
Therefore, the contradiction between technical indicators makes us more willing to stay on the sidelines until we get clearer trend signals. Watch out for confirmation that a break above 74.30 will enable further price gains from 75.55 and extend to 76.80. If it stabilizes below this level It will push prices back down, with the next major target at 70.15.
The expected trading range today is between 72.60 support and 76.00 resistance.
