Brent oil prices have rebounded into positive territory following a temporary decline observed in the previous trading session. The market is now poised for further upward movement, with an eye on reaching 83.87, marking the next significant target in the current trajectory.
The bullish trend remains firmly in play, contingent upon the acquisition of positive momentum to propel the price beyond the mentioned level. Successful attainment of this milestone is anticipated to trigger additional gains, with the next major station identified at 85.20. It is crucial for the price to maintain a position above 81.00 to sustain the expected bullish trend.
Analysts are closely monitoring the evolving situation, emphasizing the importance of the 81.00 level as a key determinant for the ongoing bullish scenario. The anticipated trading range for the day is forecasted to be between support at 81.20 and resistance at 84.20.
While the prevailing trend suggests a bullish sentiment, market participants are advised to stay abreast of market developments and consider broader economic factors influencing Brent oil prices. The delicate balance between support and resistance levels will likely play a pivotal role in shaping the near-term trajectory of Brent oil in today’s trading session.
