7
Brent oil prices successfully breached the $75.36 level and closed the daily candlestick above this mark, reinforcing expectations for a continued bullish trend on an intraday basis. This movement sets the stage for a potential advance toward the next target of $76.84.
While the current stochastic readings indicate some negative momentum that could lead to temporary sideways fluctuations, the overall outlook remains bullish. However, if prices fail to maintain consolidation above $75.36, it could trigger a decline towards the $73.90 area.
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Today’s expected trading range is between a support level of $74.20 and a resistance level of $77.20.
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Trend Forecast: Bullish
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