Brent crude oil prices have steadied above the critical support level of $84.77, bolstering a bullish sentiment for the near term. The convergence of the EMA50 with this support adds further weight to expectations of continued upward momentum. Analysts anticipate a potential rise towards the next significant target at $87.67, underlining confidence in the ongoing bullish trend.
However, a decisive break below $84.77 could signal a downturn, potentially initiating a bearish phase with the next major support level seen at $82.45.
Expected Trading Range:Market analysts project a trading range between support at $83.70 and resistance at $86.80, reflecting current market dynamics and anticipated price movements.
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Brent Oil Price Holds Steady, Eyes $87.67 Target
