Midday update for Crude oil 21-09-2022

Crude oil price rallied upwards strongly to breach 85.95 and attempts to hold above it, affected by the increased political and military tensions after Putin’s decision to mobile troops and the increased nuclear threats, which makes us stay aside until we get clearer signals for the next trend, noting that consolidating above 85.95 will push the price to achieve additional gains that reach 87.30 followed by 89.00, while trading below it again will reactivate the bearish trend scenario that its targets begin at 82.00.

The expected trading range for today is between 83.50 support and 87.30 resistance.

The expected trend for today: Neutral