Crude oil price gathers the positive momentum – Analysis - 26-10-2021

Crude oil price faced solid obstacle at the main bullish channel’s resistance, to rebound bearishly and suffer some intraday losses, noticing that stochastic provides positive signals that motivate the price to start positively today, to support the chances of resuming the bullish trend again.

Therefore, we expect to witness bullish bias today, and the targets begin by breaching 85.25 to confirm opening the way to visit 85.85 followed by 87.35 levels as next main stations, noting that breaking 82.85 will stop the expected rise and press on the price to achieve more bearish correction that its next target reaches 81.30.

The expected trading range for today is between 82.50 support and 85.50 resistance.

The expected trend for today: Bullish