Crude oil price suffers temporary losses – Analysis - 30-06-2022
Economies.com
2022-06-30 04:01AM UTC
Crude oil price bounced downwards strongly yesterday after approaching 113.00 barrier, to attack 109.15 level and settles below it, but we notice that the price begins today positively after leaning on the intraday bullish channel’s support line that appears on the chart, which supports the chances of resuming the bullish wave that its next target located at 113.70.
Therefore, we believe that the chances valid to provide new positive trades in the upcoming sessions, noting that breaking 108.35 will stop the expected rise and press on the price to turn to decline.
The expected trading range for today is between 107.00 support and 112.50 resistance.
The expected trend for today: Bullish
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