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Crude Oil Fundamental Forecast

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by , 04-11-2022 at 04:09 PM (372 Views)
      
   
WTI and Brent crude oil prices fell for a second week amid growing concerns over the global economic rebound. A more aggressive Federal Reserve outlook amplified the worry following the recent series of yield curve inversions.

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Daily price for Brent Crude Oil is located inside Ichimoku cloud for the ranging market condition: the price is trying to break bearish triangle pattern with support level at 98.44 to below for the primary bearish reversal. Alternatively, if the price breaks 109.88 resistance level to above so the bullish trend will be resumed with 114.75 target to re-enter.
Conclusion: ranging.

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