Brent Oil Price Analysis
Expected Scenario
Brent oil price shows some bearish bias approaching to test the key support base at 84.77$.
Stochastic is moving out of its negative momentum towards oversold areas, waiting for a positive trigger to resume the expected bullish trend for the upcoming period.
Main targets for the bullish trend are 85.80$ followed by 87.67$ levels.
The EMA50 continues to support the suggested bullish wave, which remains valid unless the price breaks below 84.77$ and holds below it.
Expected Trading Range
Between 84.00$ support and 87.00$ resistance
Trend Forecast: Bullish
Origin: Economies
