Crude oil price leans on the channel’s support – Analysis - 04-10-2021
Economies.com
2021-10-04 04:24AM UTC
Crude oil price bounced upwards clearly after leaning on the main bullish channel’s support line, to head towards resuming the main bullish track, approaching the recently recorded top at 76.64, noting that breaching this level will extend the bullish wave to reach 79.00 areas on the near term basis.
Therefore, the bullish bias will be suggested in the upcoming sessions, noting that breaking 74.65 will stop the expected rise and put the price under the correctional bearish pressure again.
The expected trading range for today is between 74.50 support and 77.00 resistance.
The expected trend for today: Bullish
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