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Crude Oil Price Analysis
Expected Scenario
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The crude oil price successfully breached the $83.90 level and closed the daily candlestick above it, reinforcing expectations for a continued bullish trend on both the intraday and short-term basis. This movement is organized within a bullish channel, as shown on the chart.
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Key Levels
Maintaining a position above $82.95 is crucial for the continuation of the bullish trend. Should the price fall below this level, it could experience losses and test the $81.50 mark before attempting another rise.
Expected Trading Range
The anticipated trading range for crude oil today is between the $82.70 support level and the $85.70 resistance level.
Trend Forecast
The trend forecast for crude oil remains bullish.
