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Commodities

Oil Prices Push Against $87 Threshold Amid Bullish Trend

Guavy AI Editorial Team
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Oil
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Crude oil prices continued their upward trend on September 1st, closing strong after intraday trading as it pushed against the key resistance level of $87.00.

This breach is seen as a likely outcome given the dominant bullish trend and its correlation with a minor trend line on the short-term basis.

The dynamic support provided by the 50-period Exponential Moving Average (EMA) also reinforces this path, increasing the chances of the resistance level being broken.

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