Crude Oil Price Forecast: Sharp Rebound Sets Stage for Further Upside

Consolidation Sets Stage for Next RunOn Tuesday, the price of crude oil continued to compress as the day’s trading range was the smallest since the early-April interim swing high, which was followed by a sharp drop to $55.23. At the time of this writing, crude is set to end the day’s session with a narrow range inside day with a low of $60.92 and a high of $62.12.A decline below the low of the day has Monday’s low of $60.68 as the next lower target, followed by Friday’s low of $59.54. On the upside, there i ...