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Brent Oil Price Analysis
Expected Scenario
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Brent oil is exhibiting some bearish bias as it approaches the key support level at $84.77. The stochastic indicator is moving out of negative momentum and towards oversold areas, anticipating a positive trigger to resume the bullish trend in the upcoming period. The main targets for this bullish trend are $85.80 and $87.67. The EMA50 continues to support the expected bullish wave, which remains valid as long as the price does not break and hold below $84.77.
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Expected Trading Range
For today, the expected trading range for Brent oil is between the $84.00 support and the $87.00 resistance.
Trend Forecast: Bullish
