Brent crude oil price found solid support at the 84.33 level and embarked on a bullish rebound, initiating a fresh intraday bullish wave. This trajectory is poised to propel the price towards anticipated positive milestones, with the initial target set at 86.70. A significant breakthrough beyond this juncture would not only signify achievement of the aforementioned target but could also pave the way for a revisit to the previously attained peak at 88.22.
Consequently, the forthcoming sessions are anticipated to witness a sustained ascent, reinforced by the reinforcing presence of the EMA50. It is paramount to underscore that the continuation of this bullish wave is contingent upon maintaining levels above 84.33.
Today’s envisaged trading range spans from the support at 84.50 to the resistance at 87.50.
The envisioned trend for today remains bullish.