Brent oil has experienced a resurgence, surpassing the crucial resistance at 75.60 and securing a position above it. This development has halted the preceding negative scenario, paving the way for anticipated gains in the short term, with a primary target set at 77.44.
It is imperative to closely monitor the price as it approaches the targeted level. A successful breach at this point signifies the potential for sustained upward movement, targeting additional gains with the next significant level at 79.20. Conversely, failure to consolidate within the current bullish wave could lead to a resumption of the main bearish trend, directing the price towards 72.70 in the near term.
Today’s anticipated trading range spans from the support level at 75.10 to the resistance at 78.00.
Projected Trend for Today: Bullish
