Brent Oil Price Surges to Target, Faces Sturdy Resistance at $81.00

by Jennifer

Brent oil prices displayed a significant upward rally, breaking free from the confines of the bearish channel’s resistance and reaching the anticipated target at $81.00. The market is currently encountering robust resistance at this level, prompting a cautious approach to confirm a successful breach, which could pave the way for additional gains. The next objectives lie at $82.35 and $83.87.

The prevailing bullish trend retains its momentum in the upcoming sessions, supported by the EMA50, which continues to guide the price from below. It is essential to note that a failure to surpass the $81.00 resistance level might trigger a bearish rebound, directing the price towards an initial test of $79.35.

Advertisements

For today’s trading activities, the expected range oscillates between support at $79.35 and resistance at $82.50.

Advertisements

The overall trend anticipated for today leans towards a bullish stance, contingent on the market’s ability to surmount the resistance at $81.00.

You May Also Like

blank

Bnher is a comprehensive futures portal. The main columns include futures market, futures exchanges, futures varieties, futures basic knowledge and other columns.

[Contact us: [email protected]]

© 2023 Copyright  bedgut.com – Futures Market, Investment, Trading & News