Brent Oil Price Analysis
Expected Scenario
Brent oil price tested the key support at 84.77$ and maintains stability above it, accompanied by clear positive signals from the stochastic indicator, which suggests a potential resumption of the bullish trend.
The next target for the bullish move is expected to reach 87.67$.
The bullish channel is organizing the suggested upward wave. It’s important to note that breaking below 84.77$ will invalidate the expected rise and may prompt the price to turn bearish.
Expected Trading Range
The expected trading range for today is between 84.00$ support and 86.80$ resistance.
Trend Forecast: Bullish
Origin: Economies
