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Crude oil price forecast update 31-05-2024
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Crude oil price forecast update 31-05-2024
May 31, 2024 5:50 AM

Price Analysis: Crude Oil Expected Scenario Crude oil price shows bullish bias to test minor resistance at 78.25$, noting that breaching this level will push the price to achieve intraday gains and turn to rise for the rest of the day, to target testing 79.60$ areas before turning to decline again. The price needs to break 77.64$ to reinforce the expectations of continuing the domination of the bearish trend that its next targets reach 76.45$ followed by 75.25$. Expected Trading Range Between 76.00$ support and 79.00$ resistance.

Trend Forecast: Bearish

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