- Brent Crude Oil Reverses From Support Level 83.15
- May rise to resistance level 90.00
Brent crude recently reversed upwards from the 83.15 support level (which has seen repeated price reversals since early August), coinciding with the daily Bollinger Band decline and 50% Fibonacci correction of the upward impulse from June.
An upward reversal from support level 83.15 is currently forming the daily candlestick reversal pattern Morningstar Doji.
Given that the daily stochastic remains oversold, Brent crude oil is expected to move higher towards the next resistance level at 90.00.
