Midday update for Crude oil 16-03-2023

2 weeks ago

Crude oil price settles below 68.00, and didn’t show any strong move since morning, waiting to get negative motive that assists to push the price to resume the expected bearish trend for today, which its next target located at 65.70.


Therefore, our bearish overview will remain valid and active, supported by the negative pressure formed by the EMA50, reminding you that it is important to hold below 69.25 to continue the expected decline.


The expected trading range for today is between 65.70 support and 69.50 resistance.

The expected trend for today: Bearish

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