Brent Oil Price Analysis
Expected Scenario
The Brent oil price successfully breached the $87.67 resistance level, closing above it yesterday. This supports the expectation of a continued bullish trend in the upcoming period, with positive targets set at $89.30 and $89.95.
Supporting Factors
The bullish channel supports the continuation of the anticipated bullish wave. However, if the price breaks the support line of this channel at $87.25, it may decline on an intraday basis, with initial negative targets at $86.30, potentially extending to $84.77 before resuming its upward movement.
Expected Trading Range
Today’s anticipated trading range for Brent oil is between the $86.50 support level and the $89.50 resistance level.
Trend Forecast
The trend forecast for Brent oil remains bullish.
