Crude oil price surpasses the support – Analysis - 22-11-2021
Economies.com
2021-11-22 05:24AM UTC
Crude oil price confirmed breaking 76.40 level after ending last Friday below it, to head towards achieving more bearish correction, on its way to visit 73.60 as a next negative target, which represents 50% Fibonacci correction level.
The EMA50 continues to press negatively on the price, to continue suggesting the bearish trend for the upcoming period, taking into consideration that breaching 76.40 and holding above it will lead the price to start recovery attempts that target testing 78.90 and might extend to 79.85 areas before detecting the next trend clearly.
The expected trading range for today is between 74.20 support and 77.30 resistance.
The expected trend for today: Bearish
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