Brent oil price approaches the psychological barrier – Forecast today - 03-04-2024

Economies.com
2024-04-03 02:33AM UTC

Brent Oil Analysis

  • Brent oil price continues to rise towards the next main target at the psychological barrier of 90.00$ per barrel.
  • Expectation of the bullish trend to continue, targeting new positive levels up to 91.00$ upon surpassing the previous level.
  • Possible sell-offs and profit taking when testing the psychological barrier.
  • Breaking 88.60$ may temporarily halt the bullish wave, pushing the price to test the first key support at 87.40$.

Expected Trading Range for Today

  • Between 88.30$ support and 91.20$ resistance.

Trend Forecast: Bullish

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