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Crude oil price resumes the decline – Forecast today - 30-04-2024
Crude Oil Price Analysis
Crude oil price has experienced a clear bounce downwards after testing the $83.60 level in the previous sessions, supporting the continuation of expectations for a decline on the intraday basis. The path is now open to achieve our awaited target at $81.50, with the possibility of extending the correctional bearish wave to reach the $79.60 areas upon breaking this level.
Therefore, the bearish trend scenario will remain valid and active unless the price rallies to breach the $83.90 level and holds above it.
Expected Trading Range
- Support: $81.00
- Resistance: $83.00
Trend Forecast
Bearish
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