Midday update for Crude oil 09-12-2021
Economies.com
2021-12-09 10:27AM UTC
Crude oil price faces clear negative pressure to head towards potential test to 70.85 level, affected by stochastic negativity, making the bearish bias suggested temporarily until leaning on the mentioned level and rebounds bullishly to resume the main bullish trend.
The positive targets begin by breaching 73.60 to open the way to head towards 76.40, taking into consideration that breaking 70.85 will put the price under additional negative pressure that targets testing 68.70 areas direct.
The expected trading range for today is between 71.40 support and 74.70 resistance.
The expected trend for today: Overall bullish
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