Midday update for Crude oil 21-11-2023
Economies.com
2023-11-21 09:22AM UTC
Crude oil price shows some bearish bias to test the key support 77.25, and as we mentioned this morning, the price needs to hold above this level to keep the bullish trend scenario active for today, which its targets begin by breaching 77.86 to confirm extending the bullish wave towards 79.60 followed by 81.20.
Note that breaking 77.25 will put the price under negative pressure that targets testing 75.85 as a first negative station.
The expected trading range for today is between 76.50 support and 79.50 resistance.
The expected trend for today: Bullish
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