Brent oil prices have resumed their decline, testing the critical support level at $82.40 per barrel. For the bullish trend to remain valid and active, the price must consolidate above this level. The next main targets for the bullish trend are set at $83.70, followed by $84.77.
Stochastic indicators are showing positive momentum, which supports the likelihood of resuming the anticipated bullish trend. This bullish outlook will remain intact unless Brent prices break below the $82.40 level and close below it on a daily basis.
Expected Trading Range
Today’s expected trading range for Brent oil is between a support level of $81.10 and a resistance level of $84.00.
Related topics:
Brent Oil Prices Show Mixed Movement, Awaiting Bullish Trend
Brent Oil Prices Show Bullish Momentum, Eyeing Key Resistance at $82.40
Brent Oil Price Inches Closer to Anticipated Target Before Reversal
