Midday update for Crude oil 05-12-2023

2023-12-05 10:35AM UTC

Crude oil price trades positively, attempting to breach 73.73 level, which requires being aware from the upcoming trading, where the price needs to settle below this level, to keep the bearish trend scenario active for today, targeting 72.20 then 70.00 levels mainly. 




I remind you that reaching 73.73 will lead the price to turn to the upside and achieve gains that begin at 75.70 and extend to 77.87. 




The expected trading range for today is between 71.30 support and 74.30 resistance. 




The expected trend for today: Bearish 

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