Brent Oil Price Analysis
Expected Scenario
Brent oil prices have resumed positive trading, testing the $86.00 barrier and confirming the continuation of the bullish trend for both intraday and short-term periods. The path appears clear to reach the next target of $87.67.
The bullish trend is reinforced by the support from the EMA50. However, if the price breaks below $84.77, this would halt the bullish wave and potentially initiate a bearish trend, targeting the $82.45 area in the near term.
Expected Trading Range
Traders can expect Brent oil to trade within a range defined by support at $84.80 and resistance at $87.70.
Trend Forecast
The trend forecast for Brent oil remains bullish, provided the price holds above the critical support levels.
Investors and traders should closely watch these levels to make informed decisions in today’s Brent oil market.
