Brent oil prices are currently experiencing notable downward pressure, hinting at a possible test of the critical support level at 89.10. It is worth noting that as long as the price remains above this crucial threshold, our optimistic outlook for the day remains intact. We eagerly await positive catalysts that could drive prices higher, facilitating the achievement of our primary targets, commencing at 92.35 and extending to 93.20 upon surpassing the aforementioned level.
The projected trading range for today’s session is anticipated to fluctuate between the support at 89.20 and the resistance at 92.30.
Overall, the prevailing trend for today continues to favor a bullish stance, underlining the potential for further upward movement in Brent oil prices.
