Crude oil price faces solid resistance ceiling – Analysis - 22-07-2021

2021-07-22 04:14:13 GMT (Economies.com)
 

Crude oil price’s rally stopped at the broken support of the main bullish channel, as the EMA50 meets the resistance line formed at this level to add more strength to it, accompanied by witnessing clear overbought signals through stochastic.

 

Therefore, we believe that the chances valid to rebound bearishly from the current areas and return to the correctional bearish track, and the targets begin by breaking 69.25 followed by confirming opening the way to visit 67.45 followed by 65.20 levels, noting that the continuation of the bearish wave depends on the price stability below 71.05.

 

The expected trading range for today is between 67.40 support and 71.20 resistance.

The expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.1842
0.0054
0.4606%
1.3900
0.0103
0.7487%
Tadawul
10933.73
22.68
0.21%
25.032
-0.180
0.714%
72.311
0.670
0.935%
74.74
0.31
0.42%
1809.930
7.795
0.432%
 
 
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