Crude oil price achieves more negative targets – Analysis - 20-07-2021

Crude oil price achieved temporary rise to test 67.00 barrier after the sharp decline that it witnessed yesterday, and begins to decline again now, which supports the expectations of continuing the bearish trend, waiting to test 65.20 that represents our next target.

Therefore, we will continue  to suggest the bearish trend for the upcoming period conditioned by the price stability below 67.45, noting that breaking the targeted level will extend the bearish wave to reach 62.90 followed by 61.55 as next negative targets.

The expected trading range for today is between 64.50 support and 67.50 resistance.

The expected trend for today: Bearish