Brent oil price is recovering – Forecast today - 12-04-2024
Economies.com
2024-04-12 03:33AM UTC
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
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