Brent oil prices have opened with positive trades, approaching the $75.24 level, which aligns with the 50% Fibonacci correction for the recent decline. A breach of this level could pave the way for a rally toward the next target of $76.68.
The EMA50 continues to support this bullish wave, which remains valid unless the price breaks below $73.80 and holds a daily close beneath this level.
The expected trading range for today is between $73.70 support and $76.70 resistance.
Trend Forecast: Bullish
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