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Brent oil price forecast update 16-05-2024
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Brent oil price forecast update 16-05-2024
May 16, 2024 3:37 AM

Brent Oil Price Analysis Expected Scenario Brent oil price shows weak trades since morning, and as long as the price is above 82.40$, the bullish bias will remain suggested for today, which targets testing 84.77$ before turning back to resume the correctional bearish track again.

On the other hand, we remind you that breaking 82.40$ will stop the expected bullish trend and put the price under the negative pressure that its next main target reaches 80.08$.

Expected Trading Range The expected trading range for today is between 82.20$ support and 85.10$ resistance.

Trend Forecast: Bullish

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