Crude oil price tests the resistance – Analysis - 31-08-2021
Economies.com
2021-08-31 04:15AM UTC
Crude oil price tests 69.25 level, and as we mentioned yesterday, the price needs to breach this level to confirm extending the bullish wave towards 71.05, to continue suggesting the bullish trend for the upcoming period, which gets good support by the EMA50.
Note that the continuation of the expected bullish wave requires holding above 67.45, as breaking it might press on the price to turn to decline and achieve negative targets that start by testing 65.20 areas.
The expected trading range for today is between 67.45 support and 70.50 resistance.
The expected trend for today: Bullish
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