Crude oil price surpasses the first positive target – Analysis - 20-11-2023
Economies.com
2023-11-20 04:12AM UTC
Crude oil price continued the bullish rally to surpass our first positive target at 75.85 and test the bearish channel’s resistance that appears on the chart, and we suggest the continuation of the rise to visit 77.86 as a next positive target, to keep the bullish bias suggested in the upcoming sessions.
Note that the technical indicators provide negative signals that might hinder the mission to rise, taking into consideration that failing to surpass the current resistance lines around 76.60 will stop the positive scenario and push the price to decline again.
The expected trading range for today is between 75.40 support and 78.40 resistance.
The expected trend for today: Bullish
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