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After experiencing a recent uptick, crude oil prices have settled around the $85.50 level. Market analysts are now anticipating additional positive momentum to assist in reinvigorating the anticipated bullish trend, with the next target projected at $86.75. The EMA50 indicator continues to provide support for the envisaged bullish wave, thus safeguarding trades within the confines of the bullish channel.
However, it is crucial to note that a breach of the $83.56 mark could potentially disrupt the anticipated upward trajectory, triggering a bearish correction in the intraday trading sessions.
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Expected Trading Range for Today:
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- Support: $84.30
- Resistance: $87.20
Trend Forecast: Bullish
