Brent crude oil surged significantly yesterday, meeting our anticipated target of $87.67. Analysts foresee further upward momentum, suggesting potential breakthroughs above this level could pave the way for achieving even higher targets in the near term. The next immediate targets are set at $89.30, with subsequent objectives at $89.95.
The prevailing bullish trend is expected to persist in upcoming sessions. However, failure to breach the $87.67 mark may prompt a bearish correction, potentially testing support near $86.05 before any renewed upward movement.
Expected Trading Range: The current expected trading range oscillates between support at $86.20 and resistance at $89.30.
Related topics:
Brent Oil Price Trends Higher Amid Bullish Channel Support
