5
Brent oil prices saw additional positive movement yesterday, approaching the second target of 76.84$. However, the price now faces negative pressure, testing the crucial support level at 75.36$. For the bullish trend to remain intact, the price needs to maintain stability above this support. A break below this level could reverse the trend, leading to a bearish wave with an initial target at 73.90$.
Stochastic indicators are attempting to regain positive momentum, which could support the continuation of the expected bullish trend. If the price manages to break and hold above 76.84$, the next target would be 78.00$.
Advertisements
The expected trading range for today is between 74.20$ support and 77.20$ resistance.
Advertisements
Trend Forecast: Bullish
You Might Be Interested In：
