Brent Oil Prices Fluctuate Within Bearish Pattern – Forecast for August 7, 2024

by Jennifer

Brent oil prices are currently moving within a bearish pennant pattern on the chart. A break below $76.60 could trigger a continuation of the downward trend, with potential targets at $75.30 and $74.00.

We maintain a bearish outlook for the near term. However, if Brent oil prices rise above $77.80, this would negate the current bearish pattern and could lead to a recovery, pushing prices towards $79.40.

Advertisements

Today’s anticipated trading range is between $75.60 for support and $78.50 for resistance.

Advertisements

Trend Forecast: Bearish

You May Also Like

blank

Bnher is a comprehensive futures portal. The main columns include futures market, futures exchanges, futures varieties, futures basic knowledge and other columns.

[Contact us: [email protected]]

© 2023 Copyright  bedgut.com – Futures Market, Investment, Trading & News