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Brent oil prices are currently testing a critical support level at $75.36. As highlighted earlier today, it is essential for prices to remain above this threshold to maintain a bullish trend in the near term, supported by the 50-day Exponential Moving Average (EMA). The next target price is set at $76.84. However, if the price breaks below $75.36, it could lead to further declines, potentially reaching the $73.90 area.
The anticipated trading range for today is between a support level of $74.70 and a resistance level of $77.70.
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Trend Forecast: Bullish
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