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Brent oil prices have successfully breached the $78.80 level and closed above it, marking a shift from the previously anticipated negative scenario. This breakout signals the start of a new bullish wave, with the next key target set at $80.65.
The bullish trend is expected to continue in the coming sessions, although some sideways movement may occur due to stochastic negativity. A drop below $78.80 could negate the bullish momentum and introduce negative pressure.
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Today’s projected trading range for Brent oil is between $78.20 on the support side and $81.10 on the resistance side.
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Trend Forecast: Bullish
