Brent Oil Price Analysis
Expected Scenario
Brent oil price provided clear positive trades yesterday and attempted to breach 87.67$ level, but it begins today with bearish bias affected by stochastic negativity, which might force the price to test the bullish channel’s support line around 86.90$ before turning back to rise again.
Holding above the mentioned support keeps the bullish trend scenario active for the upcoming period, with next targets reaching 89.30$ followed by 89.95$. Breaking the support will put the price under negative pressure targeting testing 86.00$ and potentially extending to 84.77$ before any new attempt to rise.
Expected Trading Range
Between 86.20$ support and 89.00$ resistance.
Trend Forecast: Bullish
Origin: Economies
