Brent crude oil has recently settled at higher levels in its intraday trading, after finding support at the key $65.00 level. This support has provided the commodity with positive momentum, potentially setting the stage for further gains if the support level holds.
The dominance of the bullish corrective trend on the short-term chart, combined with positive signals from the Relative Strength Index (RSI)—which has recently emerged from oversold levels—reinforces the outlook for an upward move. Additionally, Brent crude’s continued trading above the 50-period Exponential Moving Average (EMA50) provides further bullish support for potential price increases.
Related topics: