Brent oil price is testing the key resistance 83.87 and attempts to breach it, to hint heading to activate the positive scenario on the intraday basis, but it needs confirmed breach to this level to confirm the continuation of the rise, which keeps the sideways range dominant until the price manages to surpass one of its lines represented by the mentioned resistance and 83.87 support.

We remind you that breaching the resistance will push the price to achieve gains that start at 85.50 and extend to 86.74, while breaking the support represents the key to turn to decline and achieve negative targets that reach 77.44.

The expected trading range for today is between 82.30 support and 85.30 resistance.

Trend forecast: Sideways

Origin: Economies