3
Brent crude oil prices have successfully breached the $75.36 mark and closed above it, strengthening expectations for a continuation of the bullish trend on an intraday basis. This upward movement sets the stage for prices to potentially rise towards the next target of $76.84.
However, the current negative reading on the stochastic indicator suggests that there may be some temporary sideways movement before the bullish momentum resumes. A failure to maintain a level above $75.36 could halt the upward trend and push prices back down, with initial support seen around the $73.90 level.
For today, the anticipated trading range for Brent oil is between $74.20 on the downside and $77.20 on the upside.
Related topic:
