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Crude oil prices begin the week with fluctuating moves- Analysis- 02-03-2026
Crude oil witnessed sharp and fluctuated trading on their last intraday trading, after opening the trading with strong bullish gap that allowed it to breach $69.50 resistance, however the price entered a quick wave to gather gains and take a breather and gain the required momentum to resume the rise.
Besides its attempts to offload overbought conditions on relative strength indicators, with the emergence of new negative signals, explaining the intraday decline after the gap, despite these pressures the price remains leaning on key dynamic support, represented by its trading above EMA50, with the main bullish trend dominance on short-term basis, keeping the positive overview valid.
Therefore, we suggest a rise in crude oil prices in upcoming intraday trading, if $67.00 support settles, to target $75.00 resistance.
The expected trading range for today is between $67.00 support and $75.00 resistance.
Today’s forecast: Bullish
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