Crude oil price is recovering – Forecast today - 28-03-2024
2024-03-28 03:08AM UTC

Crude Oil Price Analysis

Bullish Momentum

Crude oil price exhibits a bullish bias, surpassing the 82.00$ barrier.

EMA50 support suggests a continuation of the upward trend with initial gains targeting 83.56$.

Intraday Outlook

Expectations favor further bullish bias in the short term.

Breaching 82.40$ will reinforce bullish sentiment, while failure may lead to a retest of 80.68$.

Breakdown below 80.68$ could extend the correctional bearish wave towards 78.90$.

Trading Range

Expected trading range for today: 81.00$ support - 83.80$ resistance.

Trend forecast: Bullish

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