Brent Oil Price Analysis
Expected Scenario
The Brent oil price breached the 82.45$ level clearly and closed above it, indicating an exit from the correctional bearish channel and paving the way for an expected bullish wave.
The next target is set at 84.77$, with potential further gains up to 87.67$ upon breaching this level.
Today’s bias leans towards bullishness, albeit possibly preceded by temporary sideways fluctuations due to stochastic negativity.
A break below 82.45$ would halt the anticipated rise and may prompt a decline.
Expected Trading Range
Between 82.10$ support and 85.10$ resistance.
Trend Forecast: Bullish
Origin: Economies
