Crude Oil Price Analysis

Expected Scenario

Crude oil price tested the bullish channel’s support line and begins to rebound upwards clearly now, to head towards resuming the bullish trend within this channel, on its way to achieve gains that start by targeting 89.40$ areas. RSI shows positive signals that support the expected rise, while the EMA50 keeps carrying the price from below to reinforce the positive overview, reminding you that the continuation of the bullish trend requires holding above 85.30$.

Expected Trading Range

Between 85.00$ support and 88.00$ resistance.

Trend Forecast: Bullish