Crude oil price awaits more rise – Forecast today - 02-04-2024

Economies.com
2024-04-02 01:41AM UTC

Crude Oil Price Analysis

Crude oil price trades above the 84.00$ barrier after the rise witnessed in the previous sessions, settling inside the bullish channel visible on the chart. It is now waiting to resume the bullish wave targeting 85.00$ followed by 86.75$ levels as the next main stations.

The EMA50 keeps supporting the price from below, reinforcing the expectations of achieving more gains on the intraday and short-term basis. However, breaking 83.56$ will put the price under correctional bearish pressure for the bullish wave that started from 71.35$ areas.

Trading Range Forecast

The expected trading range for today is between 83.00$ support and 86.00$ resistance.

Trend forecast: Bullish

Commodities News

Gold News

Commodities

Gold surpasses $2400 for first time ever
2024-04-16 20:03PM UTC
Gold prices rallied on Tuesday and scaled fresh record highs on strong haven demand, as global ...
Oil News

Commodities

Oil prices hover near two-week lows as markets expect little response from Israel to Iran's attacks
2024-04-16 13:17PM UTC
Global oil prices fell in American trade on Tuesday, approaching two-week lows as the US now ...
Gold News

Commodities

Will gold prices scale $3000 an ounce in 2024?
2024-04-16 11:59AM UTC
Gold prices continued to move in a positive zone and approached the record highs scaled last week ...

Commodities Technical Analysis

Brent oil Analysis

Commodities

Brent oil price forecast update 16-04-2024
2024-04-16 09:52AM UTC
Brent Oil Price Forecast Brent oil price finds solid resistance at 90.90$, to show negative ...
Oil Analysis

Commodities

Crude oil price forecast update 16-04-2024
2024-04-16 09:48AM UTC
Crude Oil Price Forecast Crude oil price trades negatively to press on 85.45$ support line, ...
Silver Analysis

Commodities

Silver price forecast update 16-04-2024
2024-04-16 09:48AM UTC
Silver Price Forecast Silver price faces clear negative pressure now, to approach the key ...