Midday update for Crude oil 05-06-2023
Economies.com
2023-06-05 09:31AM UTC
Crude oil price rallied upwards strongly to start attacking 73.80 level, waiting to breach this level to confirm the continuation of the expected bullish trend for today, which its next target located at 76.10.
Therefore, we will continue to suggest the bullish trend for today supported by the EMA50, noting that failing to surpass 73.80 will push the price to rebound bearishly and head to test 71.55 areas before any new attempt to rise.
The expected trading range for today is between 71.20 support and 74.50 resistance.
The expected trend for today: Bullish
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