Crude Oil Price Shows Signs of Recovery, Bullish Trend Forecasted – 23-04-2024

by Jennifer

On April 23, 2024, the crude oil price exhibited signs of recovery, maintaining a bullish bias as it moved further away from the $81.50 level. This suggests the potential for intraday gains, with the next main target set at $83.90.

Expectations favor a continuation of the bullish bias in the forthcoming sessions. A breakthrough above $82.80 would facilitate the attainment of the suggested target. Conversely, a drop below $81.50 would interrupt the bullish trend and could lead to new losses, with the next correctional level expected around $79.60.


Traders should anticipate a trading range between the support level at $81.30 and the resistance level at $84.30.


Overall, the trend forecast for crude oil remains bullish, reflecting the current market sentiment.

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