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Brent oil price exits the correctional bearish track – Forecast today - 28-05-2024
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Brent oil price exits the correctional bearish track – Forecast today - 28-05-2024
May 27, 2024 9:47 PM

Brent Oil Price Analysis Expected Scenario The Brent oil price breached the 82.45$ level clearly and closed above it, indicating an exit from the correctional bearish channel and paving the way for an expected bullish wave. The next target is set at 84.77$, with potential further gains up to 87.67$ upon breaching this level. Today's bias leans towards bullishness, albeit possibly preceded by temporary sideways fluctuations due to stochastic negativity. A break below 82.45$ would halt the anticipated rise and may prompt a decline. Expected Trading Range Between 82.10$ support and 85.10$ resistance.

Trend Forecast: Bullish

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