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Brent oil price forecast update 08-05-2024
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Brent oil price forecast update 08-05-2024
May 8, 2024 3:30 AM

Brent Oil Price Analysis Expected Scenario Brent oil price succeeded to touch our waited target at 82.40$. Attempts to break it, supporting the chances of extending the correctional bearish wave and head to target 80.08$ areas as a next negative station. Therefore, our bearish overview will remain valid for today. Failing to confirm breaking 82.40$ will lead the price to start recovery attempts and head to visit 84.77$ areas initially. Expected Trading Range Between 81.60$ support and 84.60$ resistance.

Trend Forecast: Bearish

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