Brent oil price forecast update 24-05-2024
Economies.com
2024-05-24 09:12AM UTC
Brent Oil Price Analysis
Expected Scenario
- Brent oil price shows weak trades since morning, thus, no change to the expected bearish trend scenario for today, supported by the EMA50, which targets 80.08$ as a next station, reminding you that breaking it will push the price towards 78.50$, while the price needs to hold below 82.45$ and 83.35$ levels to guarantee the continuation of the expected decline.
Expected Trading Range
Between 80.00$ support and 82.60$ resistance.
Trend Forecast: Bearish
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