Crude Oil Price Analysis: Anticipated Trends for 11-06-2024

by Jennifer

On June 11, 2024, the price of crude oil settled at $77.64 per barrel. However, uncertainty looms as technical factors present conflicting signals, leaving the market in a state of neutrality.

Analysts emphasize the importance of the $77.64 level, stating that a breach could pave the way for further gains, potentially reaching $79.55 per barrel. Conversely, failure to surpass this level could exert downward pressure, with a downside target of $75.25 per barrel.


Expected Trading Range


Market observers anticipate a trading range between the support level of $76.00 and the resistance level of $79.40.

Trend Forecast

As of the latest assessment, the trend forecast for crude oil remains neutral, awaiting clearer signals to determine its trajectory.

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