Mixed sentiment sees Brent crude ending the day broadly flat; establishes tight $75.35 to $75.52 range

Without a clear-cut direction, Brent crude is trading around $75.35 per barrel and ranging between $75.35 and $75.52.

Brent crude oil's state is reflected by market data as highly important Producer Price Index data from United States beat analyst expectations of 0.3% with a reading of 0.2%. Highly important Initial Jobless Claims data from United States beat analyst expectations of 245,000 with a reading of 264,000. Highly important Crude Oil Inventories data from United States beat analyst expectations of -917,000 with a reading of 2.95 million.

Concerning technical analysis and more specifically, trend indicators, Brent Crude Oil made an initial break below its 10 day Simple Moving Average at $76.07, a possible indication of a forthcoming negative trend. As the trading day comes to an end, chart analysis indicates ICE Brent crude is approaching key support, around $1.1 away from $74.25. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.

All in all, the technical analysis suggests Brent crude oil has no clear-cut direction.

Meanwhile, mixed performances are seen in other Energy as Crude Oil added 0.68% to its value, now trading at $71.35.

ICE Brent crude has recovered 4.15% since descending to a significant low of $72 around 8 days ago.