Brent oil price forecast update 19-04-2024
Economies.com
2024-04-19 10:43AM UTC
Brent Oil Price Analysis
Expected Scenario
- The Brent oil price bounced downwards strongly and couldn’t manage to confirm the return to the bullish channel.
- It attacked the 87.67$ level and headed towards a potential return to the correctional bearish trend.
- We expect domination of the bearish trend in the upcoming sessions, targeting 84.77$ areas as the next negative station.
- Therefore, we expect to witness more decline for the rest of the day.
- Noting that trading above 87.67$ again will lead the price to recover and achieve gains that start at 90.10$ followed by 92.35$.
Expected Trading Range
Between 85.50$ support and 88.00$ resistance.
Trend Forecast: Bearish
Commodities News
Commodities
Gold gains ground as dollar dips while traders digest Fed's decisions
2024-05-02 18:30PM UTC
Gold prices rose on Thursday as the dollar fell against most major rivals, while investors digest ...
Commodities
Oil prices try to recover from seven-week lows
2024-05-02 13:05PM UTC
Global oil prices rose in European trade on Thursday for the first time in five sessions away from ...
Commodities
Gold tumbles to one-month lows but still logs in monthly profit
2024-04-30 20:41PM UTC
Gold prices fell on Tuesday as the dollar rose against most major rivals, but the precious metal ...
Commodities Technical Analysis
Commodities
End of day gold price forecast update - 02-05-2024
2024-05-02 16:17PM UTC
Gold price continues to decline to test 2300.00$, waiting for more decline to achieve the ...
Commodities
End of day gold price forecast update - 02-05-2024
2024-05-02 16:16PM UTC
Gold price continues to decline to test 2300.00$, waiting for more decline to achieve the main ...
Commodities
Crude oil price forecast update 02-05-2024
2024-05-02 09:06AM UTC
Crude Oil Trading Report Crude oil price shows positive trades and attempts to breach 79.60$, ...