Brent oil price demonstrated notable positivity in recent trading sessions, successfully surpassing the $79.00 barrier and consolidating above this level. This development enhances the prospects of a continued bullish trend on an intraday basis, with anticipated targets beginning at $80.30, followed by $81.00.
The support from the EMA50 further fortifies the price, instilling confidence in the continuation of the suggested bullish bias. It is crucial to monitor the $77.44 level, as any breach below this point would nullify the positive scenario, potentially initiating a reversal towards a bearish trajectory.
Today’s projected trading range is expected to oscillate between the support at $78.00 and resistance at $81.00, sustaining the prevailing bullish outlook.
