Crude oil prices have decisively breached the $75.25 level and settled above it, indicating a potential continuation of the upward trend and suggesting further gains in the near term. The next target price is projected at $77.64. To facilitate the achievement of this target, it is essential for crude oil prices to breach the $76.05 level. Conversely, if the price falls below $75.25, it would signify a negative shift, potentially pushing the price back onto the main bearish track.
Expected Trading Range
Support: $74.40
Resistance: $77.60
Trend Forecast: Bullish