Crude oil price forecast update 18-04-2024
Economies.com
2024-04-18 11:12AM UTC
Crude Oil Price Analysis
Expected Scenario
- Crude oil price resumes its negative trading to reach our waited target at 81.50$.
- We suggest surpassing this level to achieve additional bearish correction that reaches 79.60$, to keep the bearish trend dominant for the rest of the day.
Expected Outcome
The EMA50 supports the continuation of the suggested bearish wave, which will remain valid unless breaching 83.9$ and holding above it.
Expected Trading Range
Between the 81.00$ support and the 84.00$ resistance.
Trend Forecast: Bearish
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