Crude oil prices achieve strong gains – Analysis - 28-03-2023

Crude oil price ended yesterday above 72.50 level, to confirm opening the way to achieve more bullish correction, to head towards visiting 74.45 areas as a next main target.

On the other hand, we notice that the price completed forming double bottom pattern that has positive targets that surpass the mentioned level to reach 78.25 areas.

Therefore, we expect to witness more bullish bias in the upcoming sessions, noting that breaking 72.50 and holding below it will press on the price to decline and head to test 70.55 initially.

The expected trading range for today is between 71.40 support and 74.50 resistance.

The expected trend for today: Bullish