Advertisements

Crude Oil Price Achieves Positive Close – Forecast for July 5, 2024

by Jennifer

Crude Oil Price Analysis

Expected Scenario

Advertisements

The crude oil price successfully breached the $83.90 level and closed the daily candlestick above it, reinforcing expectations for a continued bullish trend on both the intraday and short-term basis. This movement is organized within a bullish channel, as shown on the chart.

Advertisements

Key Levels

Maintaining a position above $82.95 is crucial for the continuation of the bullish trend. Should the price fall below this level, it could experience losses and test the $81.50 mark before attempting another rise.

Expected Trading Range

The anticipated trading range for crude oil today is between the $82.70 support level and the $85.70 resistance level.

Trend Forecast

The trend forecast for crude oil remains bullish.

You May Also Like

blank

Bnher is a comprehensive futures portal. The main columns include futures market, futures exchanges, futures varieties, futures basic knowledge and other columns.

[Contact us: [email protected]]

© 2023 Copyright  bedgut.com – Futures Market, Investment, Trading & News