Crude oil price surpasses the second target – Analysis - 07-10-2021
Crude oil price succeeded to achieve the second target at 76.65 and presses negatively on it now, reinforcing the chances of extending the bearish wave on the intraday basis, on its way to visit 74.50 as a next main target.
Therefore, we expect to witness more decline in the upcoming sessions, and breaking 76.10 will ease the mission of achieving the extended target, while failing to consolidate below 76.65 might push the price to start recovery attempts and regain the main bullish trend again.
The expected trading range for today is between 75.00 support and 77.80 resistance.
The expected trend for today: Bearish