Midday update for Crude oil 10-05-2022
Economies.com
2022-05-10 09:34AM UTC
Crude oil price trades positively to head towards potential test to the key resistance 104.60, making the bearish bias suggested for the rest of the day, affected by stochastic positivity, begin aware that we need to monitor the price when reaching the targeted level, as breaching it will lead the price to achieve more gains on the intraday basis, while breaking 98.95 will stop the current rise and press on the price to suffer more losses in the upcoming period.
The expected trading range for today is between 98.00 support and 104.00 resistance.
The expected trend for today: Bullish for the rest of the day
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