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The price of crude oil closed yesterday with significant gains, confirming its breakthrough above $81.84. This breakthrough halted the previous bearish correction and set the stage for further upward movement, aiming to test the recent high of $84.68.
Today, a bullish bias is anticipated, supported by trading above the EMA50 indicator. However, a decline below $81.84 could prompt a new round of bearish correction, with initial targets around $80.08.
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The expected trading range for today is between support at $81.70 and resistance at $84.70.
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Trend Forecast: Bullish
