Crude oil price breaks the support – Analysis - 02-12-2021

2021-12-02 05:26:38 GMT (Economies.com)
 

Crude oil price’s rise stopped near 69.50 level, to rebound downwards trongly and break 67.40 level and settles below it, opening the way to resume the bearish wave and head towards 64.30 followed by 61.85 levels as next main targets.

 

Therefore, we expect to witness more decline in the upcoming sessions, noting that breaching 67.40 will stop the current negative pressure and lead the price to start new recovery attempts.

 

The expected trading range for today is between 64.00 support and 67.80 resistance.

The expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.1285
-0.0012
0.1071%
1.3492
0.0015
0.1094%
Tadawul
12108.56
56.61
0.47%
23.796
-0.020
0.084%
85.079
1.538
1.841%
87.98
1.67
1.93%
1849.180
9.715
0.528%
 
 
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