Brent crude oil prices have resumed a steady upward trend after successfully defending their 200-day moving average (200-DMA) throughout August, according to FX Street. The price also broke above a multi-month descending trend line, signaling renewed strength in the market.
Societe Generale has highlighted that Brent’s uptrend could target the $102 level before moving toward higher projections. This technical momentum suggests growing confidence among traders and investors in Brent’s near-term price prospects.
For Japanese markets, where energy imports significantly impact trade balances and inflation, movements in Brent crude prices remain a key factor influencing currency and equity market dynamics.