Midday update for Crude oil 02-02-2023

2023-02-02 10:22AM UTC

Crude oil price faces negative pressure to decline and approach 75.65 level, which makes us stop the morning suggested positive scenario and stay aside until we get clearer signal for the next trend, noting that breaking the mentioned level will press on the price to achieve more decline and head towards 73.75 areas as a next main station, while breaching 77.00 will reactivate the positive scenario that targets 78.95 mainly.


The expected trading range for today is between 75.00 support and 77.50 resistance.

The expected trend for today: Neutral

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