Crude oil price returns to the bullish channel – Analysis - 10-11-2021

Crude oil price provided additional positive trades yesterday to succeed achieving our first waited target at 83.80 and return to the main bullish channel that appears on the chart, which supports the continuation of the bullish trend scenario on the intraday and short term basis, waiting for more rise to visit 85.40 as a next target.

Therefore, we expect to witness more bullish bias in the upcoming sessions conditioned by the price stability above 82.70, noting that breaching the targeted level will extend the bullish wave to reach 88.00$ per barrel areas.

The expected trading range for today is between 82.70 support and 86.00 resistance.

The expected trend for today: Bullish