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Crude oil price resumes the rise – Analysis - 25-01-2024
Crude oil price settles above 75.20 level, waiting to resume the expected bullish wave on the intraday basis, which targets 77.86 as a next station, organized inside the bullish channel that appears on the chart.
The EMA50 continues to support the suggested bullish wave, and breaching the mentioned level will lead the price to achieve more gains on the longer-term basis, while breaking 73.73 will stop the expected rise and push the price to turn to decline.
The expected trading range for today is between 74.00 support and 77.00 resistance
The expected trend for today: Bullish
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