Brent oil price completes negative pattern – Forecast today - 02-09-2024

Brent oil price completes negative pattern – Forecast today – 02-09-2024

Forex News 02.09.2024 | 0 | 0 |

Brent oil price confirmed breaking 78.80$ after ending last Friday below it, starting today with more decline to confirm the completion of the double top pattern that its signs appear on the chart, which has negative targets that start at 75.80$ and extend to 74.50$.

Therefore, the bearish bias will be suggested in the upcoming sessions, supported by the negative pressure formed by the EMA50, conditioned by the price stability below 77.85$ and the most important below 78.80$.

The expected trading range for today is between 75.00$ support and 78.00$ resistance.

Trend forecast: Bearish