Crude oil price gathers the positive momentum – Analysis - 29-12-2021
Economies.com
2021-12-29 04:48AM UTC
Crude oil price fluctuates around 76.40 level since yesterday, finding difficulty to breach it until now, noticing that stochastic gains the positive momentum clearly, waiting to motivate the price to resume the bullish trend that its next main target located at 79.80.
Therefore, the bullish trend scenario will remain valid and active on the intraday and short term basis, noting that breaking 75.45 will stop the expected rise and press on the price to test 73.60 areas before any new attempt to rise.
The expected trading range for today is between 74.80 support and 77.50 resistance.
The expected trend for today: Bullish
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