Crude oil price hits the target – Forecast today - 24-04-2024
Economies.com
2024-04-24 03:57AM UTC
Crude Oil Price Analysis
Crude Oil Scenario:
- Crude oil price managed to touch our waited target at 83.90$ and settles there, as it finds solid resistance there, especially that the EMA50 meets this level to add more strength to it, which might push the price to decline again and achieve more bearish correction.
- Now, we prefer to stay aside until the price confirms its situation according to 83.90$ level to detect the next destination clearly, noting that breaching it will push the price to regain the main bullish trend and achieve gains that start at 85.15$ and extend to 87.05$, while consolidating below it will push the price to visit 81.50$ again.
Trading Range:
- The expected trading range for today is between 82.00$ support and 85.30$ resistance
Trend forecast: Neutral
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