Crude oil price forecast update 22-03-2024

Crude oil price shows positive trades to approach 81.80$ level, and as we mentioned this morning, breaching this level is required to reinforce the expectations of continuing the bullish trend in the upcoming sessions, which will push the price back to the bullish channel again and push the price towards our first positive target at 83.85$.

Therefore, we will continue to suggest the bullish trend on the intraday basis, reminding you that breaking 80.68$ will put the price under additional correctional bearish pressure that targets 78.90$ areas as a next negative station.

The expected trading range for today is between 80.00$ support and 83.00$ resistance

Trend forecast: Bullish