Price Analysis for Brent Oil
Expected Scenario
The Brent oil price has resumed positive trading and is currently testing the EMA50. Further upward movement is expected to target 84.77$, representing the main objective of the current bullish wave, thereby maintaining a positive scenario on the intraday basis.
It’s important to note that the current uptrend is considered temporary unless there is a breakout above 84.77$ and a sustained hold above it. Failure to breach this level could lead to a resumption of the main bearish trend, targeting 82.40$ and potentially extending to new negative targets around 80.08$.
Expected Trading Range
Between 82.20$ support and 85.10$ resistance.
Trend Forecast: Bullish
Origin: Economies
