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Crude oil price forecast update 08-05-2024
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Crude oil price forecast update 08-05-2024
May 8, 2024 3:30 AM

Crude Oil Price Analysis Expected Scenario Crude oil price trades with clear negativity to break 77.64$ level. Attempts to hold below it, urging the continuation of the expected bearish trend for today. Opening the way to head towards our next target at 75.25$. The EMA50 keeps supporting the suggested bearish wave. Noting that holding below 77.64$ represents the first condition to the continuation of the expected decline. Expected Trading Range Between 76.00$ support and 78.50$ resistance.

Trend Forecast: Bearish

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