Crude oil price approaches the resistance – Analysis - 12-05-2021

2021-05-12 00:03:29 GMT (Economies.com)
 

Crude oil price traded with clear positivity yesterday to reach the key resistance 65.60, and the price needs to breach this level to ease the mission of rallying towards our next positive target that reaches 67.95.

 

Therefore, we will keep our bullish overview that gets continuous support by the EMA50 unless breaking 64.35 followed by 63.65 levels and holding below them.

 

The expected trading range for today is between 64.35 support and 67.00 resistance.

The expected trend for today: Bullish

 
 
 
  Symbol Last Change Chg.%
1.1930
0.0028
0.2353%
1.3919
0.0025
0.1814%
Tadawul
10919.68
6.62
0.06%
25.947
-0.042
0.160%
73.232
1.406
1.958%
75.56
0.32
0.43%
1775.565
-2.825
0.159%
 
 
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