Brent oil price forecast update 06-05-2024
Economies.com
2024-05-06 11:08AM UTC
Brent Oil Price Analysis
- Brent oil price is affected by stochastic positivity, trading positively and approaching testing the 84.77$ level.
- As long as the price is below this level, our bearish overview will remain valid for today.
- This bearish view is affected by the previously completed double top pattern.
- We are waiting to test 82.40$ as the first main target.
Expected Trading Range for Today:
- Support: 81.00$
- Resistance: 85.00$
Trend Forecast:
Bearish
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