Advertisements
Home News Crude Oil Prices Face Support Level Pressure – Forecast for July 19, 2024

Crude Oil Prices Face Support Level Pressure – Forecast for July 19, 2024

by Barbara

Crude oil prices concluded yesterday’s session on a downtrend, settling at $81.84. Today, the price has continued its decline, testing this key support level. This movement suggests a possible shift toward a corrective bearish trend. However, it is advisable to maintain a neutral stance until the price confirms its behavior relative to this level and provides a clearer indication of its future trajectory.

If the price remains below $81.84, it could further decline, potentially targeting $80.08 as the next support level. Conversely, if prices consolidate above this support, they may initiate a bullish wave, with initial targets set at $83.05 and possibly extending to $84.68.

Advertisements
Advertisements

The anticipated trading range for today is between $80.00 on the downside and $83.60 on the upside.

Advertisements

You may also like

Rckir is a comprehensive financial portal. The main columns include foreign exchange wealth management, futures wealth management, gold wealth management, stock wealth management, fund wealth management, insurance wealth management, trust wealth management, wealth management knowledge, etc.

【Contact us: [email protected]

© 2023 Copyright Rckir.com [[email protected]]