Crude oil price reaches the second target – Analysis - 28-12-2021

Crude oil price rallied upwards strongly in the previous sessions to reach the thresholds of the waited target at 76.40, affected by the previously completed double bottom pattern, which its signs appear on the cahrt, which has positive targets that surpass the mentioned level to reach 79.80.

Therefore, we expect the continuation of the bullish trend domination in the upcoming period, it might be preceded by some temporary bearish bias affected by stochastic negativity, taking into consideration that the continuation of the bullish wave requires holding above 73.60.

The expected trading range for today is between 74.50 support and 77.50 resistance.

The expected trend for today: Bullish