Crude oil price surpasses the target – Analysis - 24-08-2021

Crude oil price succeeded to achieve our waited positive target at 65.20 and breached it to stop at the bearish channel’s resistance that appears on the chart, which forms solid barrier at 66.00, which urges monitoring the upcoming trading to confirm the next destionation, and it needs to surpass one of the mentioned levels to detect its next targets clearly.

Note that breaching 66.00 resistance will lead the price to achieve additional gains that reach 67.40, while breaking 65.20 support will press on the price to resume the main bearish wave that its targets begin at 64.30 and extend to 63.50.

The expected trading range for today is between 64.30 support and 67.40 resistance.

The expected trend for today: Depends on the above mentioned levels