Crude oil price faces intraday negative pressures – Analysis - 25-10-2021
Economies.com
2021-10-25 04:25AM UTC
Crude oil price managed to achieve our waited target at 84.55 and breaches it to open the way to achieve more expected gains on the longer term basis, and it needs to surpass 84.85 resistance to confirm extending the bullish wave towards 85.85 followed by 87.35 areas.
Therefore, we will continue to suggest the bullish trend for the upcoming period, noting that failing to breach 84.85 and breaking 83.90 will press on the price to start correctional bearish wave that targets testing 82.10 areas initially before any new attempt to rise.
The expected trading range for today is between 83.50 support and 86.20 resistance.
The expected trend for today: Bullish
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