Brent Oil Price Forecast Update – September 25, 2024

Brent oil prices have shown limited movement this morning, though indicators suggest a potential shift. The stochastic oscillator is gaining positive momentum, signaling a possible resumption of the anticipated bullish trend. The initial target for this upward movement is to breach the resistance level at $75.24, which would pave the way for prices to advance toward the primary target of $76.68. It is crucial for prices to remain above the support level of $73.97 to achieve these projected targets.

The expected trading range for today is set between a support level of $73.70 and a resistance level of $76.70.

Trend Forecast: Bullish

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