Midday update for Crude oil 08-11-2021
Economies.com
2021-11-08 10:22AM UTC
Crude oil price shows slight rise to attempt to move away from the EMA50, reinforcing the expectations of continuing the bullish trend for the rest of the day, which its targets begin by breaching 83.30 to confirm the continuation of the rise towards 85.40 as a next positive station, while the price needs to hold above 80.65 to keep the bullish trend scenario active for the upcoming period, as breaking it will press on the price to return to the correctional bearish track again.
The expected trading range for today is between 81.00 support and 84.00 resistance.
The expected trend for today: Bullish
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