Brent: Gradual decline extends with lower targets – Societe Generale
By FXStreet Insights Team
Updated: 12 Jun 2026
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Societe Generale’s Kenneth Broux and colleagues note Brent has fallen below $90 per barrel after US-Iran deal hopes and President Trump’s cancelled strikes. Their technical view highlights a sustained downtrend after losing the 50-DMA and breaking an ascending trend line.
Societe Generale’s Kenneth Broux and colleagues note Brent has fallen below $90 per barrel after US-Iran deal hopes and President Trump’s cancelled strikes. Their technical view highlights a sustained downtrend after losing the 50-DMA and breaking an ascending trend line. They flag $95.50 as near-term resistance, with downside objectives around $86 and then $82/81.
Downtrend intact with lower objectives
"Brent down 2% at $88.5/b after President Trump cancels planned strikes, signals potential deal as soon as the weekend."
"Brent has continued its gradual decline after giving up the 50-DMA in May."
"It has failed to defend the ascending trend line drawn since March, highlighting the prevalence of steady downward momentum."
"If a brief rebound develops, the recent pivot high around $95.50 could act as a short-term hurdle."
"The next objectives may be located at the trough achieved in April around $86 and projections near $82/81."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
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