Midday update for Crude oil 25-05-2023
Economies.com
1 week ago
Crude oil price faces clear negative pressure to attack 73.80 level and moves below it, which urges caution from the upcoming trading, as confirming the break and consolidate below this level will stop the expected rise and push the price to decline towards 71.55 mainly.
Stochastic attempts to gather the positive momentum, waiting to motivate the price to resume the bullish wave and step above 73.80 to reinforce the chances of heading towards 76.10 as a next main target.
The expected trading range for today is between 72.80 support and 76.10 resistance.
The expected trend for today: Bullish
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