Crude oil price draws negative pattern – Forecast today - 10-04-2024
Crude oil price fluctuates at the EMA50 that forms good intraday support against the price, noting that the price records lower highs that support the chances of continuing the decline in the upcoming sessions, to target 83.15$ areas as a next main station, waiting for additional negative trades on the intraday basis.
Breaking 85.15$ will confirm the completion of the mentioned negative pattern and push the price to achieve the suggested target, while on the other hand, breaching 86.60$ will cancel the negative pattern and push the price to regain the main bullish trend again, to head towards visiting 88.65$ aeras as a next positive target.
The expected trading range for today is between 83.70$ support and 86.70$ resistance
Trend forecast: Bearish
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