Brent crude oil is currently priced at $84.17, showing a 0.33% increase.

Brent crude oil is currently priced at $84.17, showing a 0.33% increase. The pivot level at $83.92 holds significant importance; breaching it could trigger substantial market movements. Resistance levels are identified at $84.94, $85.65, and $86.43, while support levels are situated at $83.24, $82.28, and $81.06.

Key technical indicators, such as the 50-day and 200-day Exponential Moving Averages (EMAs) at $82.75 and $81.84 respectively, indicate a bullish trend. These metrics suggest that the market possesses the momentum for further price hikes, provided it maintains above the crucial $83.92 level.

However, a drop below $83.92 might prompt significant selling pressure. Therefore, the trajectory for Brent crude oil remains bullish as long as it stays above $83.92, although there could be a potential shift if it falls below this threshold.