Crude oil price attempts to recover – Analysis - 29-10-2021
Economies.com
2021-10-29 04:47AM UTC
Crude oil price provided clear positive trades yesterday and tested the previously broken minor support that turns into resistance now at 83.00, as it keeps its stability below it, to start providing bearish rebound signals now, accompanied by witnessing negative signals through stochastic.
Therefore, we believe that the chances are valid to provide negative trades in the upcoming sessions, and the next main target is located at 79.83, noting that breaching 83.00 will stop the expected decline and lead the price to resume the main bullish trend again.
The expected trading range for today is between 81.00 support and 84.00 resistance.
The expected trend for today: Bearish
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