Brent Oil Price Forecast – June 24, 2024: Bullish Trend Expected

by Jennifer

Brent Oil Price Analysis

Brent oil prices have recently consolidated above the key support level at $84.77. This stability is accompanied by positive signals from the stochastic indicator, indicating a potential continuation of the bullish trend.


Expected Scenario


Today, the expectation is for Brent oil prices to potentially resume their upward movement. The next target for this bullish phase is projected to be around $87.67. The structure of the bullish channel supports this anticipated upward trajectory.

It is crucial to monitor the support level at $84.77 closely. A break below this support could invalidate the bullish outlook and potentially lead to a bearish reversal in prices.

Expected Trading Range

  • Support: $84.00
  • Resistance: $86.80

Trend Forecast: Bullish

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