Crude oil price hits the extended target – Analysis - 08-03-2021
Economies.com
2021-03-08 05:03AM UTC
Crude oil price opened today’s trading with strong rise to surpass our waited target at 67.00 and settles above the main bullish channel’s resistance that appears on the chart, which leads the price to achieve more expected gains on the short term and medium term basis, to head towards visiting 70.00 as a next main station.
The EMA50 keeps supporting the suggested bullish wave, noting that breaking 66.30 will stop the expected rise and press on the price to start intraday correctional bearish wave before any new attempt to rise.
The expected trading range for today is between 66.00 support and 69.00 resistance.
The expected trend for today: Bullish
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