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Brent oil price awaits more rise – Forecast today - 16-05-2024
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Brent oil price awaits more rise – Forecast today - 16-05-2024
May 15, 2024 9:37 PM

Brent Oil Price Analysis Expected Scenario The Brent oil price continues to trade positively, reinforcing expectations of maintaining a bullish bias on the intraday basis. The path is clear to reach the awaited positive target at 84.77$, awaiting positive momentum to sustain the upward movement. It's important to note that the anticipated rise is temporary, with expectations of a return to the correctional bearish track within the bearish channel visible on the chart. Breaking 82.40$ will halt the suggested rise and prompt a return to the decline. Expected Trading Range Between 82.20$ support and 85.10$ resistance.

Trend Forecast: Bullish

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