Brent oil price forecast update 21-03-2024
Economies.com
2024-03-21 09:08AM UTC
Brent oil price is testing the intraday bullish channel’s support line now, and the price needs to hold above this support to continue the expected bullish trend on the intraday and short-term basis, as breaking it will push the price to turn to decline and head to target 84.55$ areas mainly.
Stochastic provides positive signals that support the expectations to rise, noting that the targets begin by breaching 87.40$ to head towards 88.40$ followed by 90.00$ levels as next main stations.
The expected trading range for today is between 85.50$ support and 88.50$ resistance.
Trend forecast: Bullish
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