Crude oil price forecast update 26-04-2024

Crude Oil Price Analysis

Expected Scenario

• Crude oil price keeps its stability above 83.90$ level, keeping the bullish trend scenario valid and active for today.
• Supported by moving above the EMA50, waiting to visit 85.70$ followed by 88.00$ levels as next main targets.
• Breaking 83.90$ will put the price under the correctional bearish pressure again, to head towards targeting 81.50$ areas on the near-term basis.

Expected Trading Range

Between 83.00$ support and 85.90$ resistance.