Crude oil price suffers sharp losses – Analysis - 09-06-2023
Economies.com
2023-06-09 03:50AM UTC
Crude oil price faced strong negative pressure yesterday to break 71.55 level and approach 68.75, to confirm reactivating the negative scenario on the intraday basis, waiting for new negative trades to surpass the last level and open the way to head towards 67.00 followed by 65.50 levels as next negative stations.
Moving below the EMA50 supports the continuation of the expected decline, while breaching 71.55 will stop the current negative pressure and lead the price to attempt to recover again.
The expected trading range for today is between 69.00 support and 72.20 resistance.
The expected trend for today: Bearish
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