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Crude oil price forecast update 10-05-2024
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Crude oil price forecast update 10-05-2024
May 10, 2024 5:32 AM

Expected Trading Scenarios Crude oil price shows negative trades to attempt to return below 79.60$ level. This reinforces the expectations of continuing the bearish bias for today. The bias is supported by RSI negativity, waiting to open the way to rally towards 77.64$ as a next main target. Moving below the EMA50 supports the suggested bearish wave. This wave will remain valid unless breaching 79.80$ and holding above it. Expected Trading Range Support: 78.00$ Resistance: 81.00$ Trend Forecast: Bearish

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