Brent oil price forecast update 15-04-2024
Economies.com
2024-04-15 09:27AM UTC
Brent Oil Price Analysis
Expected Scenario
- The price of Brent oil shows new negative trades, surpassing the EMA50.
- This supports the continuation of the expected bearish trend for today.
- Mainly waiting to visit levels at 89.25$ - 89.00$.
- When reaching these levels, it's crucial to monitor the price, as surpassing them will push the price out of the bullish channel.
- This could initiate a bearish correction on the intraday and short-term basis.
Expected Outcome
The price is expected to continue the bearish trend.
Expected Trading Range
Between the support at 89.00$ and the resistance at 91.70$.
Trend Forecast: Bearish
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