Brent oil price is recovering – Forecast today - 09-04-2024

Brent Oil Price Analysis

Expected Scenario

Brent oil price trades positively, surpassing the 91.00$ barrier and attempting to hold above it, supporting the continuation of the expected bullish trend on the intraday and short-term basis. The way is open to visit the bullish channel’s resistance, now at 92.35$, with the potential to reach 94.05$ as a next positive station upon breaching this level.

The bullish channel continues to organize the main bullish wave. Breaking 90.10$ might lead to a temporary decline to test the channel’s support line around 87.90$ before any new positive attempt.

Expected Trading Range

Between the support at 90.00$ and the resistance at 93.00$