Crude oil price needs additional positive momentum – Forecast today - 03-04-2024

Economies.com
2024-04-03 02:33AM UTC

Crude Oil Price Forecast - 03-04-2024

Crude Oil Analysis

  • Crude oil price settles around 85.50$ level after a recent rise.
  • Waiting for positive momentum to assist in resuming the expected bullish trend, with the next target at 86.75$.
  • The EMA50 continues to support the suggested bullish wave, protecting trades inside the bullish channel.
  • Breaking 83.56$ will halt the expected rise, initiating a bearish correction on the intraday basis.

Expected Trading Range for Today

  • Between 84.30$ support and 87.20$ resistance.

Trend Forecast: Bullish

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