Brent Oil Price Analysis

Brent oil price succeeded in achieving our first waited target at 90.00$ and attempted to breach it, facing temporary negative pressure affected by stochastic negativity. The EMA50 keeps providing positive support to the price, keeping the bullish trend scenario active for the upcoming period, with the next target reaching 91.00$. Holding above 89.15$ is important to continue the expected rise, as breaking it might force the price to rebound bearishly and head to test the most important support line to the short-term trades around 87.40$ before any new positive attempt. The expected trading range for today is between 88.50$ support and 91.60$ resistance.

Trend forecast: Bullish