Midday update for Crude oil 24-05-2023
Economies.com
1 week ago
Crude oil price rallies upwards to breach 73.80 and attempts to hold above it, reinforcing the expectations of continuing the bullish trend efficiently for the rest of the day, and the way is open to visit 76.10 that represents our next main target.
The EMA50 continues to support the suggested bullish wave, noting that breaking 73.80 will stop the positive scenario and put the price under negative pressure on the intraday basis, its targets begin by testing 72.60 areas.
The expected trading range for today is between 72.20 support and 75.50 resistance.
The expected trend for today: Bullish
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