Crude oil price reaches the target – Forecast today - 29-03-2024

Crude Oil Price Analysis

Expected Scenario: Bullish Trend

• Crude oil price succeeded in reaching the $83.56 level.
• Market reopening is awaited to resume the bullish wave on the intraday and short-term basis.
• Breaching the $83.56 level is crucial for targeting $85.00 as the next main objective.
• We anticipate the continuation of the bullish trend, supported by the EMA50.
• Consolidation above $83.56 against positive attempts may trigger bearish rebounds, targeting $82.25 areas.

Expected Trading Range for Today

• Support: $82.20
• Resistance: $85.00

Trend Forecast: Bullish