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Crude Oil Price Trends Upwards, Eyes $83.90 Target

by Daisy

Crude oil prices experienced downward pressure in Friday’s evening session, testing the critical support level of $81.50. Starting today, however, prices have begun with a bullish bias, aiming to resume the anticipated upward trend on an intraday basis, with the next target set at $83.90.

Analysts suggest a continued bullish outlook for the near future, supported by the EMA50 indicator. It is emphasized that a breach of the $81.50 support level would halt the anticipated rise and potentially lead to a reversal in prices.

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The expected trading range for today remains between support at $81.00 and resistance at $84.00.

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