Crude oil price suffers new losses – Analysis - 22-06-2022

2022-06-22 04:20:40 GMT (Economies.com)
 

Crude oil price begins today with sharp decline to break 109.15 and reach 104.60 level direct, and we expect the continuation of the negative pressure to break this level and open the way to achieve additional negative targets that reach 101.50 followed by 98.95 levels.

 

Therefore, the bearish bias will be suggested for today, organized inside the bearish channel that appears on the chart, taking into consideration that the consolidation of 104.60 level against the current negative pressure will stop the expected decline and lead the price to recover again.

 

The expected trading range for today is between 102.00 support and 107.50 resistance.

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The expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.0165
-0.0053
0.5216%
1.2050
-0.0054
0.4469%
19.784
-0.466
2.304%
89.228
1.967
2.254%
94.80
1.29
1.38%
1767.700
-13.985
0.785%
 
 
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