Brent Oil Price Analysis
Expected Scenario
Brent oil price returns to test the key support at 84.77$, maintaining stability above it currently, which keeps the bullish trend scenario active for the upcoming period. The EMA50 converging with the support further reinforces this bullish outlook. The price is expected to resume positive trades targeting 87.67$ as the next main station.
Breaking below 84.77$ and holding below it will signal a decline and potentially trigger a bearish wave, targeting 82.45$ as the next major support.
Expected Trading Range
Between 83.70$ support and 86.80$ resistance.
Trend Forecast: Bullish
Origin: Economies
