Crude oil price returns to the sideways track – Analysis - 01-10-2020

Crude oil price provided more positive trades to breach 39.90 level and settles above 40.00$ barrier, to move inside the sideways range again, which its lines represented by 39.15 support and 40.58 resistance, and it needs to breach one of these levels to detect its next destination clearly.

Note that continuing the rise and breaching 40.58 will lead the price to achieve more gains and head towards 41.70 areas initially, while breaking 39.15 will press on the price to decline again and press on 38.80 level to open the way to visit 38.11 followed by 37.00 levels as main negative targets.

The expected trading range for today is between 38.80 support and 41.70 resistance.

The expected trend for today: Sideways