Crude oil price consolidates above the support – Analysis - 11-05-2022
Economies.com
2022-05-11 03:57AM UTC
Crude oil price opened today’s trading with strong positivity to surpass 98.95 level and settles above it, to head towards starting new bullish wave and attempts to recover on the intraday basis, targeting visiting 104.60 areas mainly.
Therefore, we expect to witness more rise in the upcoming sessions, supported by stochastic positivity, noting that failing to hold above 98.95 will put the price under the negative pressure again, to head towards achieving negative targets that start at 95.00.
The expected trading range for today is between 98.00 support and 104.60 resistance.
The expected trend for today: Bullish
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