Brent oil price within sideways track – Forecast today - 17-04-2024
Economies.com
2024-04-17 03:37AM UTC
Brent Oil Price Analysis
Expected Scenario
- Brent oil price is exhibiting sideways trades, nearing a test of the bullish channel’s support line, with stochastic showing clear positive momentum.
- We anticipate this momentum to motivate the price to resume the main bullish trend, targeting the next level at 93.40$.
- The bullish trend scenario remains valid for the upcoming period, with a note that breaking below 89.00$ will halt the bullish wave and may initiate a bearish correction on the intraday basis.
Expected Trading Range
Between 88.60$ support and 91.50$ resistance.
Trend Forecast: Bullish
Commodities News
Commodities
Gold logs in first weekly loss in five weeks
2024-04-26 18:34PM UTC
Gold prices rose on Friday, shrugging off a surge by the dollar index following upbeat data, ...
Commodities
Palladium tumbles below $1000 an ounce once again
2024-04-26 15:34PM UTC
Palladium prices fell on Friday as the dollar rose against most major rivals, with the industrial ...
Commodities
Oil prices park at week high as US inventories drop
2024-04-26 13:14PM UTC
Oil prices rose in European trade on Friday, extending gains for the second straight session, with ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 29-04-2024
2024-04-29 09:54AM UTC
Brent Oil Price Analysis Key Points: Brent oil price has resumed positive trading, finding ...
Commodities
Crude oil price forecast update 29-04-2024
2024-04-29 09:54AM UTC
Crude Oil Price Analysis Key Points: Crude oil price is currently testing the key ...
Commodities
Silver price forecast update 29-04-2024
2024-04-29 09:54AM UTC
Silver Price Analysis Key Points: Silver price is currently trading positively, influenced ...