Crude oil touches the first positive target – Analysis - 25-06-2018

Crude oil price continued its bullish rally to touch 69.36 level by last week close, noticing that the price begins today with a bearish gap that puts the price around 68.00$ barrier, waiting to resume the bullish bias to cover the mentioned gap followed by surpassing 69.36 level to open the way to continue the bullish trend on the intraday and short term basis.

Therefore, the bullish trend will be expected in the upcoming period, and the next targets extend to reach 71.00 followed by 72.80, taking into consideration that breaking 67.22 will stop the expected rise and put the price under the negative pressure again.

Expected trading range for today is between 67.00 support and 70.00 resistance.

Expected trend for today: Bullish