Crude oil price within negative pattern – Analysis - 14-07-2022
Economies.com
2022-07-14 04:06AM UTC
Crude oil price’s recent trades are confined within bearish pennant pattern that appears on the chart, which means that breaking 92.80 will provide negative motive that push the price towards our waited target at 89.57 direct.
Stochastic provides clear negative signals now, thus, we believe that the chances valid to continue the main bearish wave, taking into consideration that breaching 95.30 will stop the negative scenario and push the price to achieve intraday gains that might reach 98.25 before any new attempt to decline.
The expected trading range for today is between 90.00 support and 96.50 resistance.
The expected trend for today: Bearish
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