Crude oil price achieves some gains – Analysis - 27-10-2021

Crude oil price provided positive trades yesterday and approached 85.00 barrier, but it returns to decline and test 84.00 level now, affected by stochastic negativity, waiting to get positive momentum that assist to push the price to resume the main bullish trend, which its main targets begin at 85.85, noting that breaching this level will extend the bullish wave to reach 87.35.

The EMA50 continues to support the suggested bullish wave, noting that breaking 82.85 will stop the expected rise and press on the price to achieve bearish correction that its targets begin at 81.30.

The expected trading range for today is between 82.85 support and 85.50 resistance.

The expected trend for today: Bullish