Crude oil price forecast update 03-04-2024

Economies.com
2024-04-03 09:59AM UTC

Crude Oil Price Analysis

Crude oil price shows sideways trades since morning, and begins the attempt to rise now to hint heading to resume the main bullish trend, keeping the positive scenario active for today, supported by the EMA50. It's important to note that our next target is located at 86.75$.

  • Holding above 85.05$ represents the first condition for the continuation of the expected rise. Breaking it might force the price to test the bullish channel’s support line around 83.56$ before any new positive attempt.

The expected trading range for today is between 84.30$ support and 87.20$ resistance.

Trend forecast: Bullish

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