Crude oil price suffers additional losses – Analysis - 10-05-2022
Economies.com
2022-05-10 04:18AM UTC
Crude oil price continued to decline strongly to approach the extended negative target at 98.95, and we expect the continuation of the negative pressure to break this level and open the way to suffer more losses that reach 95.00.
Therefore, the bearish bias will remain dominant in the upcoming sessions, taking into consideration that the consolidation of 98.95 level against the current negative pressure will lead the price to start recovery attempts and head towards testing 104.60 areas initially.
The expected trading range for today is between 96.00 support and 102.50 resistance.
The expected trend for today: Bearish
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