Midday update for Brent oil 01-03-2024

2024-03-01 10:40AM UTC

Brent oil price shows positive trades now to test the sideways range’s resistance line that appears on the chart, and the price still within this range that its lines represented by 81.00 support and 83.87 resistance, waiting to surpass one of these levels to detect the next targets clearly.


The technical indicators still contradicted and keep the sideways scenario valid, reminding you that breaking the mentioned support will put the price under negative pressure that its targets begin at 79.30 and extend to 77.44, while breaching the resistance represents the key to rally towards 85.00 as a next positive station.


The expected trading range for today is between 81.70 support and 84.80 resistance.


The expected trend for today: Sideways

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