Brent Oil Price Analysis
Expected Scenario
Brent oil price is exhibiting sideways trades, nearing a test of the bullish channel’s support line, with stochastic showing clear positive momentum.
We anticipate this momentum to motivate the price to resume the main bullish trend, targeting the next level at 93.40$.
The bullish trend scenario remains valid for the upcoming period, with a note that breaking below 89.00$ will halt the bullish wave and may initiate a bearish correction on the intraday basis.
Expected Trading Range
Between 88.60$ support and 91.50$ resistance.
Trend Forecast: Bullish
Origin: Economies
