Brent oil price forecast update 15-05-2024

Economies.com
2024-05-15 09:29AM UTC

Brent Oil Price Analysis

Expected Scenario

  • Brent oil price settles within a tight range above 83.00$ barrier, waiting to resume the bullish bias to test 84.77$ that represents the expected target of the bullish wave for today, to continue suggesting the intraday bullish trend, supported by stochastic positivity, reminding you that breaking 82.40$ will push the price to decline again to resume the correctional bearish track that targets 80.08$ areas as the next main station.

Expected Trading Range

Between 82.00$ support and 85.00$ resistance.

Trend Forecast: Bullish

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