Crude oil price forecast update 02-05-2024
Economies.com
2024-05-02 09:06AM UTC
Crude Oil Trading Report
Crude oil price shows positive trades and attempts to breach 79.60$, which urges caution from the upcoming trading, as confirming breaching this level will stop the expected bearish wave for today and push the price to build bullish wave on the intraday basis, its targets begin by visiting 81.50$ areas.
Now, the price needs to trade below 79.60$ again to confirm resuming the correctional bearish wave that its next target located at 77.65$.
The expected trading range for today is between 77.80$ support and 81.00$ resistance
Trend forecast: Bearish
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