Crude oil price approaches the extended target – Analysis - 23-08-2021
Crude oil price approached our main waited target at 61.55, and opened today with clear positivity to head towards achieving expected gains on the intraday basis, attempting to cover some of the losses that it suffered lately, on its way to test 65.20 initially.
Therefore, the bullish bias will be suggested for today, being aware that we need to monitor the price behavior when reaching the targeted level, as breaching it will lead the price to achieve additional rises that reach 66.20 followed by 67.40, taking into consideration that breaking 62.75 will stop the expected rise and press on the price to return to decline again.
The expected trading range for today is between 62.00 support and 65.20 resistance.
The expected trend for today: Bullish
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