Crude Oil Price Analysis Expected Scenario Crude oil price rallied upwards strongly yesterday, as it completed forming the bullish pennants pattern to surpass our first target at 79.55$ and settles above it, reinforcing the expectations of continuing the domination of the bullish trend in the upcoming sessions, reminding you that our next target is located at 81.50$. Therefore, we will continue to suggest the bullish trend on the intraday and short-term basis, supported by the EMA50 that carries the price from below, noting that breaking 79.55$ will stop the bullish rally and push the price to turn to decline. Expected Trading Range The expected trading range for today is between 78.80$ support and 81.70$ resistance.

Trend Forecast: Bullish