Crude oil price rises again – Forecast today - 12-04-2024
Economies.com
2024-04-12 03:33AM UTC
Crude Oil Price Analysis
Expected Scenario
- Crude oil price ended yesterday with clear positivity, starting today with additional rise to attempt to confirm surpassing the resistance line.
- The positive scenario is expected to reactivate, targeting new gains starting at 87.75$ and extending to 89.05$.
- The bullish bias is supported by the EMA50.
- Breaking 85.45$ will initiate a decline towards the bullish channel’s support line around 83.65$ before any new attempt to rise.
The expected trading range for today is between 84.60$ support and 87.60$ resistance.
Trend Forecast
Bullish
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