Brent oil price forecast update 18-04-2024
Economies.com
2024-04-18 11:12AM UTC
Brent Oil Price Analysis
Expected Scenario
- Brent oil price broke the 87.67$ level clearly.
- It closed the last four hours‘ candlestick below it, reinforcing the expectations of continuing the bearish trend for the rest of the day.
- This opens the way to achieve our next negative target at 84.77$, reminding you that the continuation of the bearish wave depends on the price stability below 89.80$.
Expected Trading Range
Between the 85.90$ support and the 88.90$ resistance.
Trend Forecast: Bearish
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