Crude oil price negotiates the resistance – Analysis - 06-05-2022
Economies.com
2022-05-06 04:20AM UTC
Crude oil price found solid resistance at 109.15 level, to show some temporary bearish bias, attempting to gather the positive momentum that we are waiting to assist to push the price to surpass the mentioned level and confirm the continuation of the bullish trend in the upcoming sessions, reminding you that our next target is located at 113.70.
Therefore, we will keep our bullish overview unless breaking 104.60 and holding below it, noting that the bullish channel supports the chances of achieving more expected gains on the intraday and short term basis.
The expected trading range for today is between 105.00 support and 111.00 resistance.
The expected trend for today: Bullish
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