Brent oil prices have experienced a notable upward rebound, finding support from the bullish trend line visible on the chart. This surge has enabled the price to reclaim levels above 77.44, reaffirming the continuity of the bullish trend. The next anticipated target for this upward trajectory is set at 81.00.
It’s important to note that the stochastic indicator is displaying a clear loss of positive momentum, which may introduce temporary negative fluctuations. However, for the bullish scenario to remain intact, the price must sustain levels above 77.44, with additional support at 76.65.
Traders are advised to closely monitor key levels, with the expected trading range for today fluctuating between support at 76.60 and resistance at 79.60. The prevailing trend for today is anticipated to be bullish, aligning with the current technical dynamics.
