Midday update for Crude oil 07-06-2023

Economies.com
2023-06-07 09:12AM UTC

Crude oil price shows bullish bias to attempt to breach 71.55 level, which urges caution from the upcoming trading, as breaching this level represents positive factor that will stop the morning report and push the price to bullish wave on the intraday basis.

 

The price needs to consolidate below 71.55 to confirm resuming the bearish wave that targets 70.00 followed by 68.75 as a next negative station.

 

The expected trading range for today is between 69.50 support and 72.50 resistance.

 

The expected trend for today: Bearish

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