Advertisements

Brent Oil Price Sees Intraday Gains – March 28, 2024 Forecast

by Jennifer

In the latest analysis of Brent oil prices, the market demonstrates a sustained upward movement, buoyed by continued bullish momentum.

Continued Bullish Momentum

Advertisements

Brent oil prices persist in their upward trajectory, notably surpassing the EMA50 indicator. This upward momentum positions the market for further gains, with the next target set at $87.40, and anticipation of continued advancement towards the $90.00 mark.

Advertisements

Intraday Outlook

While the overall trend remains bullish, temporary sideways fluctuations may occur, attributed to stochastic negativity.

Bullish trend remains intact unless key support levels at $85.90 and $85.30 are breached.

Trading Range

For today’s trading session, the expected trading range for Brent oil prices is projected to range between $85.10 as support and $88.80 as resistance.

Trend Forecast: Bullish

Given the sustained bullish momentum and the absence of significant bearish signals, the forecast for Brent oil prices remains optimistic. Traders are advised to monitor price movements closely, particularly in relation to the identified support and resistance levels, for insights into potential market direction.

You May Also Like

blank

Futuresstocktrading.com is a comprehensive futures information portal. Whether you’re a novice or seasoned trader, find futures news, futures market, futures trading tips, and futures basic knowledge to enhance your trading prowess and financial success.

[Contact us: [email protected]]

© 2023 Copyright  Futuresstocktrading.com – Futures Market, Investment, Trading & News