Midday update for Crude oil 26-05-2023

1 week ago

Crude oil price fluctuates within sideways and tight track since morning, falling under the negative pressure formed by the EMA50, to keep the chances valid to continue the expected bearish trend for today, which its targets begin by breaking 71.55 to confirm extending the bearish wave towards 70.00.


On the other hand, we should note that breaching 72.50 will push the price to recover and rise for the rest of the day to test 73.80 before any new attempt to decline.


The expected trading range for today is between 69.70 support and 73.10 resistance.


The expected trend for today: Bearish

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