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Here is our updated crude oil price forecast for April 2021! Crude oil in April continues to be very uncertain, as prices are still testing the 50-day EMA.
WTI crude kept teetering back and forth all throughout the trading session on Thursday. And according to the short-term crude oil forecast, today we’re likely to see more market hesitation – but not for much longer.
The 50-day EMA and uptrend line are converging a little beneath $60, suggesting the crude oil April price is on the verge of an explosive move. The main question is whether that move will be below or above the uptrend line. If it’s the former, the crude oil forecast says the price will likely dip towards $54, and possibly even $50 later on. A break above the uptrend line, however, could send prices up as high as $65 per barrel.
Watch our full WTI crude oil price analysis to see where this current tendency may lead us in the weeks to come and how the crude oil price will continue to develop. And drop us a line in the comment section below with your thoughts on our WTI crude oil forecast.
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