Brent oil price forecast update 20-03-2024
Economies.com
2024-03-20 09:41AM UTC
Brent oil price trades negatively to test the key support 86.74 now, affected by stochastic negativity that attempts to get rid of its negative momentum now, waiting to get positive motive that assist to push the price to resume the main bullish trend, which its next target located at 88.40.
On the other hand, we should note that breaking 86.74 will stop the expected rise and push the price to build bearish wave that targets 85.25 areas initially.
The expected trading range for today is between 86.00 support and 89.00 resistance.
Trend forecast: Bullish
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