Crude oil price begins bullish correction – Analysis - 29-11-2022
Economies.com
2022-11-29 04:46AM UTC
Crude oil price keeps rising to surpass 78.00 barrier now, as it begins bullish correction for the decline measured from 92.90 to 73.64, facing 23.6% Fibonacci correction level that forms key resistance at 78.20, which breaching it represents the key to rally towards 81.00 areas on the near term basis.
Now, we expect to witness more rise in the upcoming sessions, taking into consideration that breaking 77.30 will stop the positive scenario and press on the price to resume the main bearish trend again.
The expected trading range for today is between 77.00 support and 80.70 resistance.
The expected trend for today: Bullish
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