Brent oil price is recovering – Forecast today - 12-04-2024

Brent Oil Price Analysis

Expected Scenario

• Brent oil price decline stopped at the EMA50, forming solid support.
• Positive trading signals hint at resuming the main bullish trend.
• Positive targets are expected, starting at 91.30$ and extending to 93.70$ after breaching the previous level.
• Breaking 89.75$ will halt the positive scenario and may lead to a decline towards 88.45$.

The expected trading range for today is between 89.30$ support and 92.40$ resistance.

Trend Forecast

Bullish