Crude oil price forecast update 11-04-2024
Economies.com
2024-04-11 11:10AM UTC
Crude Oil Price Analysis
Expected Scenario
- Crude oil price is facing negative pressure to break 86.05$ level and settles below it, to head towards achieving expected decline in the upcoming sessions, targeting testing 84.55$ initially, noting that breaking it will push the price towards 83.45$ as a next negative station.
- Therefore, we expect to witness more decline for the rest of the day unless the price managed to breach 86.05$ and hold above it again.
Expected Trading Range
Between 84.55$ support and 87.00$ resistance.
Trend Forecast: Bearish for the rest of the day
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