The Brent oil price has experienced a notable downward rebound following its recent test of the 85.90 level. It is now exerting pressure on the critical support at 84.33. Given this situation, caution is advised for upcoming trading sessions, as a breach of this level would introduce a negative factor that could redirect the price back towards a corrective bearish trajectory.
Consequently, it is recommended to observe the market until the price’s stance is confirmed relative to the aforementioned level. A breach of 84.33 could lead to the realization of negative targets beginning at 83.35, extending down to 81.90. Conversely, maintaining consolidation above this level would likely prompt the resumption of the primary bullish trend, potentially reaching 86.75 and subsequently 88.20 levels.
The expected trading range for today spans between the support level of 82.75 and the resistance level of 86.10. As of now, the projected trend for the day appears neutral.