Crude oil price breaks the support – Analysis - 27-07-2022
Economies.com
2022-07-27 03:49AM UTC
Crude oil price touched 98.25 level yesterday and bounced downwards strongly from there to break 95.40 and settles below it, which pushes the price to resume the bearish wave within the bearish channel that appears on the chart, waiting for more decline in the upcoming sessions to head towards 92.30 followed by 89.60 levels as next main targets.
Therefore, the bearish bias will be suggested for today unless the price rallied to breach 95.40 followed by 96.25 levels and holding above them.
The expected trading range for today is between 91.00 support and 96.50 resistance.
The expected trend for today: Bearish
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