{"id":37466,"date":"2025-03-04T18:58:29","date_gmt":"2025-03-04T21:58:29","guid":{"rendered":"https:\/\/tiproject.online\/index.php\/2025\/03\/04\/crude-oil-price-forecast-rebounds-from-66-96-is-the-correction-over\/"},"modified":"2025-03-04T18:58:29","modified_gmt":"2025-03-04T21:58:29","slug":"crude-oil-price-forecast-rebounds-from-66-96-is-the-correction-over","status":"publish","type":"post","link":"https:\/\/tiproject.online\/index.php\/2025\/03\/04\/crude-oil-price-forecast-rebounds-from-66-96-is-the-correction-over\/","title":{"rendered":"Crude Oil Price Forecast: Rebounds from $66.96 \u2013 Is the Correction Over?"},"content":{"rendered":"

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Breakout Above Tuesday\u2019s High<\/h2>\n

A decisive breakout above today\u2019s high would trigger a one-day bullish reversal breakout and put crude in a position to challenge higher trend resistance areas. The potentially more significant resistance zone is first around the 20-Day MA, now at $71.11.<\/p>\n

For crude to have a shot of going higher and potentially reversing the bearish trend it needs to first get above and stay above the 20-Day line. That moving average can be viewed along with the downtrend line marking dynamic resistance for the decline. A decisive breakout above the line would put crude in a position to challenge potential resistance around the 50-Day MA, which is $73.23 currently.<\/p>\n

Bounce off Monthly Support<\/h2>\n

It is important to consider several key factors when addressing support at the daily low point. Support was seen near an interim swing low of $66.86 from mid-November, and near the lower channel line for the current decline. That November support level was also a monthly low. Although the lower line was not hit specifically, the correction got close enough given the subsequent bullish reaction.<\/p>\n

Moreover, a measured move for the correction shows a $13.79 or 17.1% decline from the most recent swing high at $80.76. The four prior bearish corrections in crude oil ranged from a decline of 14.8% to 18.3%. Since the current decline was close to matching the largest recent drop on a percentage basis, it provides another piece of evidence to support the likely completion of the correction. The fact that a sharp intraday bullish reversal followed further supports this thesis.<\/p>\n

For a look at all of today\u2019s economic events, check out our\u00a0economic calendar<\/a>. <\/b><\/p>\n<\/div>\n

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[ad_1] Breakout Above Tuesday\u2019s High A decisive breakout above today\u2019s high would trigger a one-day bullish reversal breakout and put crude in a position to challenge higher trend resistance areas. The potentially more significant resistance zone is first around the 20-Day MA, now at $71.11. For crude to have a shot of going higher and potentially reversing the bearish trend it needs to first get above and stay above the 20-Day line. That moving average can be viewed along with the downtrend line marking dynamic resistance for the decline. A decisive breakout above the line would put crude in a position to challenge potential resistance around the 50-Day MA, which is $73.23 currently. Bounce off Monthly Support It is important to consider several key factors when addressing support at the daily low point. Support was seen near an interim swing low of $66.86 from mid-November, and near the lower channel line for the current decline. That November support level was also a monthly low. Although the lower line was not hit specifically, the correction got close enough given the subsequent bullish reaction. Moreover, a measured move for the correction shows a $13.79 or 17.1% decline from the most recent swing high at $80.76. The four prior bearish corrections in crude oil ranged from a decline of 14.8% to 18.3%. Since the current decline was close to matching the largest recent drop on a percentage basis, it provides another piece of evidence to support the likely completion of the correction. The fact that a sharp intraday bullish reversal followed further supports this thesis. For a look at all of today\u2019s economic events, check out our\u00a0economic calendar. [ad_2]<\/p>\n","protected":false},"author":1,"featured_media":37467,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-37466","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/37466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/comments?post=37466"}],"version-history":[{"count":0,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/37466\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media\/37467"}],"wp:attachment":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media?parent=37466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/categories?post=37466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/tags?post=37466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}