Midday update for Crude oil 31-03-2023

2 months ago

Crude oil price is attempting to breach 74.50 level now, which supports the continuation of the expected bullish trend scenario for today efficiently, paving the way to head towards our next target at 76.90.


Therefore, the bullish trend will remain valid for the upcoming period, supported by the EMA50 that continues to carry the price from below, noting that failing to confirm the breach will put the price under negative pressure that targets testing 72.50 level before any new positive attempt.


The expected trading range for today is between 73.00 support and 76.00 resistance.

The expected trend for today: Bullish

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