Crude oil price forecast update 16-04-2024

Economies.com
2024-04-16 09:48AM UTC

Crude Oil Price Forecast

  • Crude oil price trades negatively to press on 85.45$ support line, which urges caution from the upcoming trading, as confirming the break and holding below this level will push the price to turn to decline for the rest of the day and head towards 83.30$ mainly, while the price needs to consolidate above the mentioned support to revive the bullish trend that its next target located at 87.60.$.

The expected trading range for today is between 84.50$ support and 87.00$ resistance

Trend forecast: Bullish

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