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
The EUR/USD pair trades in positive territory around 1.1755 during the early European trading hours on Friday.
Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. Gold finished 2025 with a significant rally, achieving an annual gain of around 65%, its biggest annual gain since 1979.
The global precious metals market experienced extreme volatility at the end of 2025, with silver prices plummeting nearly 9% on December 29, marking its largest single-day decline since 2
Silver price (XAG/USD) has lost its nearly a 4.5% gain registered in the previous session, trading around $72.50 during the Asian hours on Wednesday.
Bitcoin struggles to break the $90,000 barrier, with investors preferring traditional hedges like gold and bonds.
Related Instrument
