Crude oil prices have initiated today’s trading session with added positivity, successfully surpassing the 91.10 level and consolidating above it. This development confirms the cessation of the correctional bearish scenario and sets the stage for expected gains in forthcoming sessions. The initial target for this bullish movement is the 92.90 level.
Consequently, a bullish bias is anticipated for today’s trading. Should the targeted level be breached, it would extend the bullish wave towards the 94.00 region. Conversely, a break below 90.75 would halt the expected uptrend, potentially subjecting the price to renewed bearish pressures.
The expected trading range for today is projected to be between the support at 90.30 and the resistance at 93.20.
Anticipated Market Trend for Today: Bullish
