Crude oil price approaches the target – Analysis - 23-12-2021
Economies.com
2021-12-23 05:10AM UTC
Crude oil price provided clear positive trades yesterday to reach the thresholds of the waited target at 73.60, and by taking a deeper look at the chart, we find that the price forms double bottom pattern that we expect to assist to rally towards achieving more gains in the upcoming period, to extend the positive targets towards 76.40 followed by 79.80.
Therefore, we expect to witness more rise on the intraday and short term basis, noting that breaking 70.85 will stop the suggested positive scenario and press on the price to turn to decline.
The expected trading range for today is between 71.50 support and 75.00 resistance.
The expected trend for today: Bullish
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