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Brent Oil Price Gathers Positive Momentum – Forecast for Today, June 13, 2024

by Jennifer

Brent Oil Price Analysis

Expected Scenario

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Brent oil price concluded yesterday’s session above the $82.40 level, indicating support for the continuation of the anticipated bullish trend in the upcoming period. Notably, stochastic indicators are clearly gaining positive momentum, further reinforcing the positive outlook. Market observers anticipate a trajectory towards $83.70, followed by $84.77 as the next main targets.

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However, it’s important to consider that a break below $82.40, coupled with sustained trading beneath it, could halt the anticipated rise and subject the price to negative pressure. In such a scenario, the initial targets for downward movement would begin with a test of the $81.20 areas.

Expected Trading Range

The anticipated trading range for today is between the support level at $81.10 and the resistance level at $84.00.

Trend Forecast: Bullish

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