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Brent Oil Price Leans on the Support – Forecast for Today, June 26, 2024

by Jennifer

Brent Oil Price Analysis

Expected Scenario:

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Brent oil price experienced negative trades yesterday, testing the key support level at $84.77 and maintaining stability above it. Today, the price opened higher and is attempting to move away from the mentioned support level, reinforcing our bullish outlook for the upcoming period. Our next main target is $87.67.

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Technical indicators are showing clear positive signals, supporting the anticipated bullish trend. This bullish scenario will remain valid unless the price breaks below $84.77 and holds there.

Expected Trading Range:

  • Support: $84.00
  • Resistance: $87.00

Trend Forecast:

Bullish

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