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Brent crude oil prices have shown a notable rebound, rising after testing the $78.80 level in recent trading sessions. This movement confirms the ongoing bullish trend, with expectations for the price to test the $80.65 level as the next significant target. A breach of this level could lead to a rally toward $82.15, marking the subsequent key objective.
The price’s movement above the 50-day Exponential Moving Average (EMA50) supports the continuation of this bullish momentum. However, a decline below the $78.80 mark would introduce a bearish sentiment, potentially reversing the current trend.
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For today, the anticipated trading range is between the support level of $78.70 and the resistance level of $81.70.
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Trend Forecast: Bullish
