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Brent oil prices successfully breached the $72.00 level, settling above it and signaling recovery attempts on an intraday basis. The immediate target is now set at $73.80, with a further breach of this level potentially opening the door to additional bullish corrections, aiming for $75.24 as the next milestone.
In the upcoming sessions, a bullish bias is anticipated, although some sideways fluctuations may occur due to stochastic negativity. It’s important to note that a decline below the $72.00 mark would shift the intraday trend to a bearish outlook.
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The expected trading range for today is between support at $71.40 and resistance at $74.40.
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Trend Forecast: Bullish
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