Brent crude oil prices encountered downward pressure yesterday, briefly attempting to breach the $75.36 level. However, the commodity closed the daily candlestick above this threshold, setting the stage for a notable increase today. This positive momentum reinforces expectations of a continuing bullish trend on an intraday basis, with the next target set at $76.84. A successful breach of this level could further extend the bullish wave, potentially reaching areas around $78.66.
Technical indicators are currently showing positive signals that bolster the anticipated rise. This bullish outlook remains intact as long as prices do not fall below $75.36 and maintain a daily close above this level.
For today, the expected trading range is projected to be between $74.80 as support and $77.80 as resistance.
Related topic:
