Crude oil price touches the first target – Analysis - 24-06-2021

2021-06-24 04:25:19 GMT (Economies.com)
 

Crude oil price managed to touch our first target at 74.00 and bounced bearishly from there to test the intraday bullish channel’s support line that appears on the chart, noticing that stochastic got rid of its negativity to show oversold signals now, which supports the chances of resuming the expected bullish trend on the intraday and short term basis, which its targets extend to 75.55.

 

Therefore, we will continue to suggest the bullish trend for the upcoming period unless breaking 72.50 and holding below it.

 

The expected trading range for today is between 72.00 support and 75.00 resistance.

The expected trend for today: Bullish

 
 
 
  Symbol Last Change Chg.%
1.1736
0.0022
0.1891%
1.3718
0.0042
0.3053%
Tadawul
11270.57
-40.58
0.36%
22.742
0.442
1.982%
73.408
2.475
3.489%
77.54
0.28
0.36%
1756.065
-0.740
0.042%
 
 
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