The Brent oil market recently struggled to sustain levels above $87.67, leading to a downturn and testing the $87.00 support mark. Despite this setback, stochastic indicators have shown signs of reversing negative momentum, edging towards a more positive outlook. This development supports the potential for a bullish rebound, reaffirming the underlying uptrend.
For further bullish confirmation, prices will need to surpass the $87.67 threshold. If achieved, this could pave the way towards higher targets, beginning at $89.30 and extending up to $89.95.
Expected Trading Range: The current outlook suggests a trading range between support at $86.00 and resistance at $89.00.
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Brent Oil Price Outlook: Bullish Momentum Targets Higher Levels
