21
Brent crude oil prices encountered significant negative pressure yesterday, testing the $71.16 level. Despite this, the price has since recovered, suggesting a potential for gains on an intraday basis, with an initial target of $73.57 as a correctional objective.
For today, a bullish outlook is favored, provided the price remains above the $71.16 level. Should the price fall below this support, it would negate the bullish scenario and likely lead to further losses in both the short and medium term.
Advertisements
The expected trading range for today is between $71.00 support and $74.00 resistance.
Advertisements
Trend Forecast: Bullish
