Brent oil price cancels the negative pattern – Forecast today - 11-04-2024

Economies.com
2024-04-11 04:22AM UTC

Brent Oil Price Analysis

Expected Scenario

  • The Brent oil price rallied strongly, breaching the 90.95$ level and settling above it.
  • This action stops the previously suggested negative scenario and resumes the main bullish trend within the bullish channel.

Expected Outcome

The expected outcome is for the bullish trend to continue, targeting 92.30$ followed by 93.45$ levels as next main stations.

Stochastic current negativity might cause some temporary sideways fluctuation before resuming the expected rise.

Expected Trading Range

Between 90.00$ support and 92.80$ resistance.

Trend Forecast: Bullish

Commodities News

Gold News

Commodities

Gold about to trade above $2400
2024-05-16 09:55AM UTC
Gold prices rose in European trade on Thursday, extending gains for the third straight session and ...
Steel News

Commodities

Nickel edges up as dollar tumbles
2024-05-15 15:57PM UTC
Nickel prices rose on Wednesday as the dollar slid against major rivals following major US ...
Oil News

Commodities

Oil prices slide to 3-month trough on grim outlook for global demand
2024-05-15 14:37PM UTC
Global oil prices skidded in American trade on Wednesday to three-month lows, sharpening losses for ...

Commodities Technical Analysis

Brent oil Analysis

Commodities

Brent oil price forecast update 16-05-2024
2024-05-16 09:26AM UTC
Brent Oil Price Analysis Expected Scenario Brent oil price shows weak trades since morning, ...
Oil Analysis

Commodities

Crude oil price forecast update 16-05-2024
2024-05-16 09:26AM UTC
Crude Oil Price Analysis Expected Scenario Crude oil price finds good resistance formed by ...
Silver Analysis

Commodities

Silver price forecast update 16-05-2024
2024-05-16 09:26AM UTC
  Silver Price Analysis Expected Scenario Silver price shows sideways trades since ...