Crude oil price is recovering – Forecast today - 11-04-2024

Crude Oil Price Analysis

Expected Scenario

• The crude oil price bounced upwards strongly, canceling the negative pattern mentioned in previous reports.
• It aims to resume the main bullish trend.

Expected Outcome

The bullish bias is suggested, supported by the EMA50.

Note that breaking 86.05$ may stop the bullish wave and initiate new negative pressure.

Expected Trading Range

Between 85.20$ support and 88.25$ resistance.