Crude oil price forecast update 24-05-2024

Economies.com
2024-05-24 09:12AM UTC

Crude Oil Price Analysis

Expected Scenario

  • Crude oil price settles around 77.00$ barrier, waiting to get new negative motive that assist to push the price to resume the expected bearish wave for today, which targets 75.24$ as a next station, noting that the EMA50 continues to support the expected decline, which will remain valid unless breaching 77.64$ and holding above it.

Expected Trading Range

Between 75.60$ support and 78.60$ resistance.

Trend Forecast: Bearish

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