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Brent crude oil prices have surged past the $81.40 level, approaching the next target of $82.74. Despite this upward momentum, today’s trading has shown a slight bearish bias due to stochastic negativity. The price may test the support level at $81.40 before potentially resuming its upward trend.
Maintaining above the $81.40 support level supports the bullish outlook for the coming sessions. A breach of $82.74 would pave the way for a move towards $84.10. Conversely, falling below $81.40 would negate the positive scenario and could lead to a decline.
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Today’s anticipated trading range is between $79.80 support and $83.80 resistance.
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Trend Forecast: Bullish
