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Oil exceeds the first target – Prediction for today – 07-06-2024

by Daisy

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

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Resistance: $77.60

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Trend Forecast: Bullish

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