Crude oil price forecast update 17-04-2024

Trend Forecast for Crude Oil Price

Expected Scenario upon Breaching 85.40$ Level

• Crude oil price shows weak trades since morning, settling around 85.00$ barrier.
• Waiting to breach 85.40$ to reinforce the expectations of continuing the bullish trend in the upcoming sessions.
• The next targets are located at 87.6$ followed by 89.30$.

Expected Scenario in Case of Breaking 83.60$

• The positive scenario will remain valid unless breaking 83.60$ and holding below it.

Expected trading range for today: Between 83.60$ support and 86.70$ resistance

Trend forecast: Bullish