Midday update for Crude oil 21-10-2021
Economies.com
2021-10-21 09:56AM UTC
Crude oil price trades negatively to test the key support 82.60, and as we mentioned this morning, this level represents one of the next trend keys besides 84.00 resistance, as the price needs to surpass one of them to detect its next targets clearly, reminding you that breaking the mentioned support will press on the price to decline towards 81.60 initially, while breaching the resistance will lead the price to recover again and target 85.00 areas on the near term basis.
Therefore, we will continue with our neutrality until the price confirms surpassing one of the above mentioned levels.
The expected trading range for today is between 82.00 support and 85.00 resistance.
The expected trend for today: Neutral
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