Crude oil price hits the target – Analysis - 06-10-2021
Crude oil price begins to rebound bearishly after touching the main bullish channel’s resistance, which hints heading to start bearish wave on the intraday basis, targeting 77.85 followed by 76.65 as first negative stations, noting that breaking the last level will extend the bearish wave to reach 74.35.
Therefore, the bearish trend will be suggested for the upcoming period unless breaching 79.60 and holding above it.
The expected trading range for today is between 77.00 support and 80.00 resistance.
The expected trend for today: Bearish