Crude oil price resumes the rise – Analysis - 04-04-2023
Crude oil price continues to provide the positive trades after the temporary decline that it witnessed yesterday, as it tests 80.84 level now, and we suggest surpassing this level to achieve new gains that reach 83.25 areas.
Therefore, we expect to witness more bullish bias in the upcoming sessions, organized inside the bullish channel that appears on the chart, waiting to get positive momentum that assists to push the price to achieve the required breach followed by rallying towards the expected targets.
On the other hand, we should note that failing to breach 80.84 will put the price under intraday negative pressure to head towards testing 78.25 areas before any new attempt to rise.
The expected trading range for today is between 79.40 support and 82.60 resistance.
The expected trend for today: Bullish
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