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Crude oil price faces intraday negative pressures – Analysis - 22-10-2021
Crude oil price settles near 82.00 barrier after the mixed trades that it witnessed yesterday, moving below the intraday resistance that appears on the chart, which supports the chances of achieving new expected decline in the upcoming sessions, on its way to visit 80.70 followed by 78.75 levels on the near term basis.
Therefore, we expect to witness negative trades today, noting that breaching 82.65 will stop the expected decline and lead the price to resume the main bullish track again.
The expected trading range for today is between 80.70 support and 83.50 resistance.
The expected trend for today: Bearish
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