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Brent oil prices experienced a robust rally yesterday, successfully surpassing our initial target of $78.66 and reaching the subsequent target of $80.00. We anticipate that this upward momentum will persist, with the next primary target set at the recent high of $81.61.
The bullish trend remains active; however, some sideways fluctuations may occur due to stochastic negativity. For the bullish momentum to continue, it is essential for prices to stay above $78.66.
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The expected trading range for today is projected between a support level of $78.20 and a resistance level of $81.20.
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Trend Forecast: Bullish
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