Brent Oil Price Analysis
Expected Scenario
The Brent oil price continues to trade positively, reinforcing expectations of maintaining a bullish bias on the intraday basis. The path is clear to reach the awaited positive target at 84.77$, awaiting positive momentum to sustain the upward movement.
It’s important to note that the anticipated rise is temporary, with expectations of a return to the correctional bearish track within the bearish channel visible on the chart. Breaking 82.40$ will halt the suggested rise and prompt a return to the decline.
Expected Trading Range
Between 82.20$ support and 85.10$ resistance.
Trend Forecast: Bullish
Origin: Economies
