Crude oil price forecast update 29-04-2024
Economies.com
2024-04-29 09:54AM UTC
Crude Oil Price Analysis
Key Points:
- Crude oil price is currently testing the key resistance at $83.90, warranting caution in upcoming trading activities.
- Remaining below this level is crucial for the continuation of the correctional bearish scenario, with main targets around $81.50.
- A breach of the mentioned resistance would initiate a new bullish wave, targeting gains starting from $86.25.
Expected Trading Range:
The anticipated trading range for today is between $81.70 (support) and $84.60 (resistance).
Trend Forecast:
Bearish
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