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Crude Oil Price Resumes Bullish Trend – June 28, 2024

by Jennifer

Crude oil prices have continued to rise, confirming the breach of the sideways range’s resistance and resuming the main bullish trend. The current upward momentum is expected to lead to positive targets, starting with a visit to $83.90. If this level is breached, the price is likely to move towards the next positive target of $84.90.

Given this scenario, we anticipate further increases in crude oil prices in the upcoming sessions. However, if the price falls below $81.50, the bullish trend will be halted, and a decline may ensue.

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For today, the expected trading range for crude oil is between the support level of $81.20 and the resistance level of $84.20.

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Trend Forecast: Bullish

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