Crude oil price forecast update 27-03-2024
Economies.com
2024-03-27 09:57AM UTC
Crude Oil Price Analysis
Expected Scenarios
- Crude oil price shows additional bearish bias to reach the neckline of the double top pattern at 80.68$.
- Waiting to break this level to activate the negative effect of this pattern followed by confirming rallying to achieve more bearish correction in the upcoming sessions.
- Our next main target reaches 78.90$.
Moving below the EMA50 supports the continuation of the suggested bearish wave, reminding you that breaching 82.65$ will push the price to recover and stop the current correctional bearish pressure.
Trading Range
The expected trading range for today is between 80.00$ support and 82.70$ resistance.
Trend forecast: Bearish
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