Crude oil price begins bearish correction – Analysis - 12-10-2021

2021-10-12 03:34:53 GMT (Economies.com)
 

Crude oil price couldn’t manage to surpass the main bullish channel’s resistance, to rebound bearishly and start bearish correction for the last bullish wave, on its way to achieve negative targets that start at 79.40 and extend to 77.70.

 

Therefore, the bearish bias will remain suggested for today, noting htat breaching 80.45 is considered as the first positive key to regain the main bullish trend and stop the expected bearish correction.

 

The expected trading range for today is between 79.00 support and 81.60 resistance.

The expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.1292
0.0049
0.4339%
1.3338
-0.0068
0.5042%
Tadawul
11299.45
-68.73
0.60%
23.648
-0.839
3.428%
74.176
-1.674
2.207%
77.55
-4.71
5.73%
1808.835
-9.000
0.495%
 
 
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