Crude oil price achieves the positive targets – Analysis - 01-08-2022

2022-08-01 04:17:54 GMT (Economies.com)
 

Crude oil price managed to achieve our suggested positive targets in our previous reports and approached 100.00$ barrier, but it bounced downwards strongly to settle below 98.25, and begins to press on the bullish channel’s support line at 96.05, to hind resuming the main bearish wave, making the bearish bias suggested in the upcoming sessions, targeting 92.45 areas on the near term basis.

 

Therefore, we expect to witness negative trades today unless the price rallied to breach 98.25 and hold above it.

 

The expected trading range for today is between 93.00 support and 98.25 resistance.

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The expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.0265
0.0067
0.6597%
1.2139
0.0022
0.1816%
20.583
0.219
1.075%
92.262
3.784
4.277%
97.88
-1.74
1.75%
1796.970
15.295
0.859%
 
 
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