Midday update for Crude oil 21-03-2023
Economies.com
2023-03-21 11:03AM UTC
Crude oil price trades with clear positivity to breach 68.10 level and attempts to hold above it, which urges caution from the upcoming trading, as confirming the breach will push the price to achieve additional gains and head to visit 38.2% Fibonacci correction level at 70.55.
Now, we prefer to stay aside until the price confirms its situation according to 68.10 level, noting that trading below it again will reactivate the bearish trend scenario that targets 66.05 followed by 62.40 levels as next negative stations.
The expected trading range for today is between 67.00 support and 69.50 resistance.
The expected trend for today: Neutral
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