Crude oil price exits the sideways range – Analysis - 31-01-2023
4 months ago

Crude oil price broke 78.95 level strongly and declined clearly to approach 77.00 barrier now, to fall under expected negative pressure in the upcoming period, targeting testing 75.65 as a next negative target.


Therefore, we expect to witness more decline on the intraday basis, supported by the negative pressure formed by the EMA50, noting that the continuation of the bearish wave requires holding below 78.95.


The expected trading range for today is between 75.65 support and 79.00 resistance.

The expected trend for today: Bearish

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