Midday update for Crude oil 14-03-2023

2023-03-14 11:14AM UTC

Crude oil price broke 73.70 level strongly and settled below it, which supports the continuation of the expected bearish trend scenario efficiently for the upcoming period, opening the way to head towards our next main target that reaches 70.30.


Therefore, the bearish trend scenario will remain active for the rest of the day, supported by the EMA50 that forms negative pressure against the price, reminding you that the continuation of the bearish wave depends on the price stability below 75.64.


The expected trading range for today is between 71.80 support and 75.20 resistance.

The expected trend for today: Bearish

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