Crude oil price is calm – Analysis - 09-07-2020

2020-07-09 04:02:12 GMT (Economies.com)
 

Crude oil price did not show any strong move in the previous sessions, to continue fluctuating within the sideways range that appears on the chart, confined between 39.90 support and 40.80 resistance, thus, our neutrality will remain valid until the price manages to breach one of these levels and detect its next targets clearly.

 

We remind you that breaching the resistance will push the price to achieve new positive targets that start at 43.05, while breaking the support will force the price to decline and head towards 38.85 followed by 36.10 levels on the near term basis.

 

The expected trading range for today is between 39.00 support and 42.00 resistance.

The expected trend for today: Neutral

 
 
 
  Symbol Last Change Chg.%
1.1753
0.0043
0.3693%
1.3064
0.0049
0.3803%
Tadawul
7459.21
4.14
0.06%
24.256
0.009
0.039%
41.205
0.770
1.904%
44.40
0.85
1.95%
1972.500
3.145
0.160%
 
 
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