Crude oil price suffers sharp losses – Analysis - 02-06-2022
Economies.com
2022-06-02 04:06AM UTC
Crude oil price opened today with strong decline to break 113.70 and reach 110.50 level, which puts the price under expected negative pressure in the upcoming sessions, targeting 109.15 level as a next station, which breaking it represents the key to extend oil price losses to reach 104.60.
Therefore, the bearish bias will be suggested for today unless the price rallied to breach 113.70 and hold above it.
The expected trading range for today is between 109.00 support and 114.00 resistance.
The expected trend for today: Bearish
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