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The price of crude oil has resumed its bullish rally, confirming its upward momentum with the formation of a double bottom pattern. Analysts predict further gains throughout the day, targeting the next key level at $84.68. A successful breach of this level could propel prices towards $86.00, marking another significant milestone.
Maintaining a bullish outlook, experts advise on continuing to favor long positions in the upcoming sessions, contingent upon the price remaining above $81.84. A sustained break below this support level would alter the current trend.
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Today’s expected trading range is projected between $82.00 as support and $84.90 as resistance.
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Trend Forecast: Bullish
