Midday update for Crude oil 12-02-2024

2024-02-12 10:27AM UTC

Crude oil price faces negative pressure now to test the key support 75.90, which urges caution from the upcoming trading, as the price needs to hold above this level to keep the bullish trend valid for today, which targets 77.86 as a next station.


On the other hand, we should note that breaking 75.90 will turn the intraday track to decline to head towards testing 74.95 areas initially.


The expected trading range for today is between 75.20 support and 78.00 resistance


The expected trend for today: Bullish

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