Brent oil price forecast update 10-05-2024
Economies.com
2024-05-10 10:26AM UTC
Expected Trading Scenarios
- Brent oil price trades negatively now in attempt to resume the expected bearish trend for the upcoming period.
- The bearish trend is supported by stochastic negativity, waiting to visit 82.40$ level that represents our next main target.
- Holding below 84.77$ and 85.80$ levels is important to continue the expected decline.
- Breaching them will push the price to turn to rise and stop the current bearish correction.
Expected Trading Range
- Support: 83.00$
- Resistance: 86.00$
Trend Forecast: Bearish
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