Crude oil price is recovering – Analysis - 08-06-2022
Economies.com
2022-06-08 04:09AM UTC
Crude oil price’s decline stopped at 115.75 level, to rebound upwards strongly and settle above 118.00 barrier, to reactivate the main positive scenario and head to achieve expected gains in the upcoming sessions, targeting 119.35 level initially, noting that breaching it will push the price to 121.50 as a next target.
The EMA50 continues to support the suggested bullish wave, which will remain valid unless breaking 116.00 and holding below it.
The expected trading range for today is between 116.00 support and 120.50 resistance.
The expected trend for today: Bullish
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