Brent rebounds slightly, but the sell-off is not over yet
Brent oil has recovered to 61.17 USD. The sharp two-day drop has paused. Discover more in our analysis for 6 May 2025.
Brent technical analysis
On the H4 chart, Brent prices have rebounded from a local low of 58.72 and moved up towards 61.00. For the bounce to transition into a sustained reversal, prices must consolidate above 62.11. This would pave the way for further gains towards 62.63.
Brent prices have recovered after a steep drop, but still trade near four-year lows.
Read more - Brent Forecast
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The RoboForex Team