Crude oil price reaches the target – Forecast today - 29-03-2024

Economies.com
2024-03-29 01:46AM UTC

Crude Oil Price Analysis

Expected Scenario: Bullish Trend

  • Crude oil price succeeded in reaching the $83.56 level.
  • Market reopening is awaited to resume the bullish wave on the intraday and short-term basis.
  • Breaching the $83.56 level is crucial for targeting $85.00 as the next main objective.
  • We anticipate the continuation of the bullish trend, supported by the EMA50.
  • Consolidation above $83.56 against positive attempts may trigger bearish rebounds, targeting $82.25 areas.

Expected Trading Range for Today

  • Support: $82.20
  • Resistance: $85.00

Trend Forecast: Bullish

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