Brent Oil Price Forecast Update – June 6, 2024

by Jennifer

Current Scenario:

The Brent oil price has tested the $79.00 barrier and may exhibit some bearish bias influenced by the current negativity in stochastic indicators. However, as long as the price remains above $78.25, the bullish trend for today is anticipated to continue. The next main target is set at $80.08. It’s important to note that a breach below $78.25 would signal a resumption of the main bearish trend, with the price potentially testing $77.18 initially.

Expected Trading Range:

The anticipated trading range for Brent oil is between a support level of $77.60 and a resistance level of $80.60.

Advertisements

Trend Forecast:

The overall trend forecast for Brent oil remains bullish.

Advertisements

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