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The Brent oil price initiates today’s trading session with a slight bullish bias, signaling a potential resumption of the upward trend. The primary target in this scenario is anticipated to be the testing of $87.40, followed by an objective of $88.40 upon surpassing the initial level.
Support from the EMA50 below serves to reinforce the prospects of sustaining the bullish momentum. It’s worth noting that a breach of the $85.30 level, followed by $84.55, would halt the anticipated ascent and potentially lead to a reversal in the price trajectory.
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For today’s trading activities, the projected range is expected to span between support at $84.60 and resistance at $87.50.
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Trend Forecast: Bullish
