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Brent oil prices have successfully maintained stability above the $73.80 level, reinforcing the ongoing bullish trend. The market is currently poised to test the initial target of $75.24, with hopes of surpassing this level to confirm an extension of the correctional bullish wave, aiming for $76.68 next.
Given these conditions, a bullish outlook is anticipated for the near term. However, a break below $73.80 could introduce downward pressure, potentially leading prices to the $72.00 mark.
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Traders should expect today’s price range to be between $73.20 for support and $76.20 for resistance.
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Trend Forecast: Bullish
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