Current Price Development
- Rebound from Support Level: The price recently reacted around ~58.40 USD (or ~57.15–58.06 EUR according to current conversions) and is in an upward trend.
- Resistance Zone: The critical hurdle lies between 68.70–70.50 USD, and overcoming this could signal a trend reversal.
Market Context
- Fundamental Factors:
- Supply Pressure: US shale oil production and OPEC+ strategies continue to influence volatility.
- Demand Dynamics: Global economic concerns (e.g., trade conflicts) could limit the price increase.
- Forecasts:
- In the short term, a sideways trade with resistance tests is expected.
- Long-term experts point to rising prices until 2030 (exhaustion of conventional reserves).
Technical Analysis
| Parameter | Brent Crude Oil |
|---|---|
| Support | 57.15–58.06 EUR (~65–66 USD) |
| Resistance | 68.70–70.50 USD |
| Key Level | Break above 70.50 USD confirms bullish scenario |
Failure at the resistance could trigger another testing phase of the lower trend line.
Strategic Implications for Investors
- Breakout Strategy: Positioning on a clear breakout above 70.50 USD with target projection based on previous downward range.
- Risk Management: Stop-loss beneath the recent swing low (~57 EUR/65 USD) to limit losses.
- Alternatively: Range trading within the existing bandwidth until zone resolution.
Note: The current volatility requires strict discipline in position size and risk tolerance.