Crude oil price achieves strong gains – Analysis - 17-05-2022

2022-05-17 04:02:02 GMT (Economies.com)
 

Crude oil price rallied upwards strongly yesterday to breach 109.15 and open the way to achieve more expected gains on the intraday and short term basis, targeting testing 113.70 level initially, noting that breaching this level will push the price to 116.30 followed by 119.35 areas as next main stations.

 

Therefor, the bullish bias will be expected for the upcoming sessions unless breaking 109.15 and holding below it again.

 

The expected trading range for today is between 109.50 support and 115.00 resistance.

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The expected trend for today: Bullish

 
 
 
  Symbol Last Change Chg.%
1.0169
-0.0050
0.4898%
1.2067
-0.0038
0.3102%
19.816
-0.435
2.148%
89.191
1.930
2.212%
94.89
1.19
1.27%
1769.085
-12.600
0.707%
 
 
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