Midday update for Crude oil 17-03-2023

2 weeks ago

Crude oil price keeps its consolidation below 69.25 level, accompanied by stochastic reach to the overbought aeras, waiting to resume the expected bearish wave on the intraday and short term basis, which its next targets located at 67.65 followed by 65.70.


Therefore, we will keep our bearish overview that gets good support by the EMA50, reminding you that it is important to hold below 69.25 to achieve the waited targets.


The expected trading range for today is between 67.00 support and 70.50 resistance.

The expected trend for today: Bearish

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