Crude Oil Price Forecast for May 28, 2024: Bullish Momentum Continues

by Jennifer

Crude Oil Price Analysis:

The crude oil market has exhibited positive movement in recent sessions, validating the breach of the $77.64 threshold and advancing towards the $79.60 level.

Advertisements

Expected Scenario:

Advertisements

The path appears conducive to further upward movement, with a potential extension of gains up to $81.50 subsequent to surpassing the aforementioned level. Expectations favor a continued bullish bias in forthcoming sessions, reinforced by the presence of the EMA50. However, a consolidation phase around the $79.60 mark may prompt a bearish retracement towards $77.64 initially.

Expected Trading Range:

The envisaged trading range spans between the support level of $78.00 and the resistance level of $81.00.

Trend Forecast: 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