Midday update for Crude oil 06-07-2020

Economies.com
2020-07-06 09:35AM UTC

Crude oil price trades positively to start breaching 40.41 level, which hints the price head to activate the positive scenario in the upcoming period and continue the main bullish trend, but we need to get a daily close above the mentioned level to confirm the continuation of the rise towards 43.05 that represents the first positive target.

 

Therefore, we will continue with our neutrality until the price confirms breacing 40.41 resistance or breaking 38.90 support.

 

The expected trading range for today is between 39.00 support and 41.60 resistance.

The expected trend for today: Neutral

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