Crude oil prices continued their upward trajectory yesterday, surpassing the previously set target of $80, further solidifying the bullish trend for the near future. The market remains within a bullish channel, with the next resistance level now at $81.80.
Looking ahead, additional gains are expected both on an intraday and short-term basis. However, if prices dip below $78.25, the current bullish wave may be halted, potentially leading to a bearish correction on the intraday chart.
The anticipated trading range for today is between $79.00 support and $82.00 resistance.
Trend Forecast: Bullish