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Midday update for Crude oil 01-05-2023
Crude oil prices broke 76.10 level clearly and settled below it, to reactivate the correctional bearish scenario and heads towards achieving more expected decline in the upcoming sessions, opening the way to visit 73.85 as a next negative target.
Therefore, we expect to witness more bearish bias for the rest of the day supported by the negativity of the technical indicators, noting that the continuation of the expected decline depends on the price stability below 76.10.
The expected trading range for today is between 74.00 support and 76.00 resistance.
The expected trend for today: Bearish
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Midday update for Gold 01-05-2023
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