Brent oil price forecast update 27-03-2024
Economies.com
2024-03-27 09:57AM UTC
Brent Oil Price Analysis
Expected Scenarios
- Brent oil price begins to press on the neckline of the double top pattern at 85.30$ now.
- Reinforcing the expectations of continuing the domination of the bearish trend for the rest of the day.
- Noting that the first negative station is located at 84.55$, which breaking it represents the key to rally towards 82.75$ direct.
Therefore, the bearish trend scenario will remain valid and active for today, reminding you that it is important to hold below 86.80$ to achieve the suggested targets.
Trading Range
The expected trading range for today is between 84.00$ support and 87.00$ resistance.
Trend forecast: Bearish
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