Brent oil price keeps rising – Forecast today - 02-04-2024
Economies.com
2024-04-02 01:42AM UTC
Brent Oil Price Analysis
Brent oil price provided additional positive trades in the previous sessions, reaching 88.50$ areas. This reinforces the expectations of continuing the bullish trend on the intraday and short-term basis, organized inside the bullish channel visible on the chart. This supports the chances of achieving our next waited target at 90.00$.
Therefore, we are waiting for more expected rise in the upcoming sessions supported by the EMA50. However, breaking 87.40$ might push the price to test the mentioned channel’s support line around 86.10$ before any new attempt to rise.
Trading Range Forecast
The expected trading range for today is between 87.00$ support and 90.00$ resistance.
Trend forecast: Bullish
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