Brent price can break above $79.40 – Société Générale
Source Fxstreet
Brent decline stalled near $74 last week and it has staged an initial bounce after this test, Société Générale's FX analysts note.
Price of Brent oil can reach even the $82.60 level
"It has crossed above a steep descending channel. First layer of resistance is located at 200-DMA near $77.80/78.35. It is worth noting that Brent has consistently struggled to establish itself above this MA since last year."
"If Brent overcomes the hurdle at $77.80/78.35, the phase of rebound could extend towards $79.40 and perhaps even towards the descending trend line drawn since 2023 at $82.60."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
According to data from CoinMarketCap, XRP recorded a substantial price decline in the past trading week losing 16.78% of its market value. Currently, the prominent altcoin finds itself in a
Gold’s price (XAU/USD) has set another record high at $2,942 in early Tuesday trading before paring back nearly all the incurred gains for the day.
Gold price (XAU/USD) trades with a mild negative bias for the second straight day, though it lacks follow-through selling and holds steady just below the $2,900 mark during the Asian session on Wednesday.
XRP price is struggling to gain pace for a move above the $2.50 zone. The price is now moving lower and might decline below the $2.30 level. XRP price started a fresh decline from the $2.50 zone. The
Amazon (NASDAQ: AMZN) and Apple (NASDAQ: AAPL) have become among the world's most recognized companies. They've also become very valuable, with the former's market cap exceeding $2
Related Instrument
