Crude oil price forecast update 22-11-2024
2024-11-22 09:00AM UTC
Crude oil price achieved initial breach to 70.58$ level and attempts to hold above it, reinforcing the expectations of continuing the rise on the intraday and short-term basis and opens the way to target 72.15$ areas that represent our next positive station.
The EMA50 continues to support the suggested bullish wave, noting that breaking 70.58$ and trading below it again might push the price to decline and build bearish wave that targets 68.64$ areas mainly.
The expected trading range for today is between 69.30$ support and 72.30$ resistance
Trend forecast: Bullish
