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Brent oil prices experienced a robust upward bounce yesterday after testing the 92.74 support level. This led to an ascent towards the 94.65 zone, signaling a resurgence in the main bullish trend. In the upcoming sessions, we anticipate further gains with targets set at 94.80 and 96.05 levels.
As a result, a bullish trend is expected to prevail today, supported by positive technical indicators. It’s crucial to monitor the 92.74 support level as a potential turning point. A breach of this level could halt the anticipated rise and redirect prices towards a correctional bearish trajectory.
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The expected trading range for today is likely to fall between the support at 92.74 and the resistance at 95.70.
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Anticipated Trend for the Day: Bullish
