In a notable resurgence, the price of crude oil has exhibited a clear uptrend in recent trading sessions, edging closer to the anticipated benchmark of 83.50. Presently, it hovers in proximity to the supportive threshold of the bullish channel, which has guided the price trajectory upwards from the 66.90 range. This support level is pivotal, poised to serve as a foundation for a renewed surge in the primary bullish surge, poised to set its sights on the 85.00 mark.
Thus, our bullish perspective remains steadfast and operative, underscoring that a breach of the 82.35 level would arrest the positive narrative, potentially inducing a temporary intraday bearish correction before reverting to an upward trajectory.
For the current session, the envisaged range of trading is anticipated to span between the support line at 81.00 and resistance at 84.60.
Today’s projected trend maintains a bullish orientation.