Brent oil’s upward trajectory persisted, successfully surpassing the critical resistance level at 77.44 and concluding the daily candlestick above it. This decisive move has effectively halted the negative scenario suggested earlier, paving the way for the initiation of a new bullish wave on an intraday basis. The primary targets for this surge are set at 79.15, followed by 81.00 as the next main milestones.
Consequently, a bullish bias is anticipated for today’s trading session, albeit potentially accompanied by some lateral fluctuations influenced by stochastic negativity. It is noteworthy that any breach of the recently conquered levels, specifically 77.44 followed by 76.90, could impede the anticipated upward movement, redirecting the price back onto the main bearish track.
The expected trading range for today oscillates between support at 76.50 and resistance at 79.50, encapsulating the potential price movements in the current market conditions.
Today’s projected trend leans towards a bullish sentiment, highlighting the prevailing momentum in Brent oil prices. Traders are advised to remain vigilant for potential breakouts and reversals, closely monitoring the key support and resistance levels for decisive market insights.
