Brent oil price forecast update 02-05-2024
Economies.com
2024-05-02 09:06AM UTC
Brent Oil Trading Report
Brent oil price is testing 84.77$ level and attempts to consolidate below it, to keep the bearish trend scenario valid and active for today, which targets 82.40$ areas as a next main station.
The EMA50 continues to support the suggested bearish wave, which will remain valid unless breaching 84.77$ and holding with a daily close above it.
The expected trading range for today is between 82.80$ support and 86.00$ resistance.
Trend forecast: Bearish
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