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Brent oil prices have successfully breached the $72.06 level and concluded yesterday’s trading above it, indicating a recovery phase and an upward trajectory in the intraday market. The price is now poised to test the $73.90 mark as its initial target. A successful breach of this level could result in further gains, potentially reaching $75.36.
The expectation for today is a continuation of the bullish trend, provided that prices do not fall below the $72.06 mark and remain below it.
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The anticipated trading range for today is set between a support level of $71.50 and a resistance level of $74.50.
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Trend Forecast: Bullish
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