Crude Oil Price Surges, Hitting Initial Target

Crude oil price experienced a robust rally in recent trading sessions, surmounting the 89.10 level and successfully achieving the initial target at 90.50. The price has returned to the bullish channel, poised to pursue additional gains in the coming period, with the next targets set at 92.00 and 95.35.

The overall scenario remains bullish, supported by a previously completed double bottom pattern. The price must maintain levels above 88.70 to sustain the expected uptrend.

Looking ahead, the projected trading range for today lies between support at 89.30 and resistance at 92.30, and the prevailing trend is bullish. Traders should consider this when formulating their strategies.