Crude oil price begins positively – Analysis - 06-12-2021

Crude oil price opens today positively after the negative close that it showed on last Friday, getting positive signals by stochastic, which might lead the price to start recovery attempts in the upcoming sessions, but we prefer to stay aside now until the price confirms its situation according to 67.40 level followed by detecting the next destination clearly.

Note that holding above the mentioned level will push the price to head towards 69.10 followed by 70.85 areas as initial positive stations, while turning back to trade below it will press on the price to resume the main bearish track that its main target reaches 61.85.

The expected trading range for today is between 65.50 support and 69.10 resistance.

The expected trend for today: Neutral