Brent crude oil prices are currently displaying a bearish bias, approaching a critical support level at $84.77. The stochastic indicator suggests a move out of negative momentum towards oversold territory, indicating potential for a positive trigger that could resume the anticipated bullish trend in the near future.
Key targets for the bullish movement are projected at $85.80, followed by $87.67. The EMA50 (Exponential Moving Average 50) continues to provide support to this expected upward momentum, maintaining validity as long as the price remains above the crucial support level of $84.77.
Expected Trading Range
The anticipated trading range for Brent crude oil is expected to fluctuate between a support level of $84.00 and a resistance level of $87.00.
Related topics:
Brent Crude Oil Surpasses $84.77 Mark, Closes Higher
