Brent Oil Price Analysis
Expected Scenario
Brent oil price continues to exhibit bullish bias, nearing the awaited positive target at 84.77$.
It faces resistance from the correctional bearish channel’s upper boundary but receives positive support from the EMA50.
We anticipate the continuation of the bullish trend, with a breach of the target level extending the upward movement to 85.80$ and 86.90$ levels as subsequent positive stations.
However, consolidation around 84.77$ may prompt a bearish rebound, leading the price to test the 82.40$ level.
Expected Trading Range
Between 83.00$ support and 86.00$ resistance.
Trend Forecast: Bullish
Origin: Economies
