Crude oil price awaits the confirmation signal – Analysis - 01-07-2020

Crude oil price continues to fluctuate within sideways track, confined between the support line that rises now to 37.95 and 40.41 resistance, and we still waiting to breach one of these levels to detect the next destination clearly.

Therefore, our neutrality will remain valid until now, noting that breaching the mentioned resistance will lead the price to resume the main bullish trend that its next target located at 43.05, while breaking the support represents negative factor that will push the price to return to the correctional bearish track and achieve negative targets that start at 36.10 and extend to 32.40.

The expected trading range for today is between 38.50 support and 41.00 resistance.

The expected trend for today: Neutral