Crude Oil Price Analysis

Expected Scenario

Crude oil price ended yesterday with clear positivity, settling above the 87.00$ barrier. Expectations reinforce the continuation of the bullish trend on the intraday and short-term basis, with the next main target located at 89.40$. The bullish channel continues to organize the suggested bullish wave, receiving continuous support from the EMA50. Breaking 86.00$ will put the price under negative pressure to test the bullish channel’s support line around 84.45$ before any new attempt to rise.

Expected Trading Range

Between 86.00$ support and 89.00$ resistance.

Trend Forecast: Bullish