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Crude oil prices have notably surpassed the $75.65 mark, closing above this level yesterday. This movement strengthens expectations for an ongoing bullish trend, paving the way for potential targets of $77.00 and $78.78 in the near future.
Analysts anticipate that the bullish trend will persist in the upcoming period, supported by the 50-day exponential moving average (EMA), which is currently providing upward momentum. However, a decisive break below the $75.65 threshold could halt the bullish wave and lead to a downward shift in prices.
Today, traders can expect the price to fluctuate within a range, with support identified at $74.60 and resistance at $77.60.
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