Crude oil price reaches the target – Analysis - 09-12-2021

Economies.com
2021-12-09 05:12AM UTC

Crude oil price shows more bullish bias to reach the thresholds of the first waited target at 73.60, and the positive effect of the inverted head and shoulders’ pattern still active, which has additional positive targets that surpass the mentioned level to reach 76.40.

 

Therefore, we expect the continuation of the bullish trend in the upcoming sessions, noting that failng to surpass 73.60 might press on the price to rebound bearishly and visit 70.85 areas before any new attempt to rise.

 

The expected trading range for today is between 71.40 support and 74.70 resistance.

The expected trend for today: Bullish

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