Midday update for Crude oil 17-11-2023

Economies.com
2023-11-17 10:44AM UTC

Crude oil price is testing the key resistance 73.73, affected by stochastic positivity, and as we mentioned this morning, the price needs to hold below this level to keep the bearish trend scenario active, which its next target located at 71.65.

 

On the other hand, we should note that confirming breaching 73.73 will push the price to turn to rise and build bullish wave that targets 75.85 areas initially.

 

The expected trading range for today is between 71.50 support and 74.50 resistance.

 

The expected trend for today: Bearish

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