Crude oil price hits the positive target – Analysis - 25-08-2021

Crude oil price succeeded to achieve our waited positive target at 67.40 and found solid resistance there, to start providing negative trades by today’s open, which hint heading to achieve expected decline in the upcoming sessions, targeting visiting 65.20 level initially.

Therefore, the bearish bias will be suggested for today, taking into consideration that breaching 67.40 will stop the expected decline and lead the price to achieve additional gains on the intraday and short term basis.

The expected trading range for today is between 65.20 support and 68.20 resistance.

The expected trend for today: Bearish