Commodities

Crude oil price hits the first target – Analysis - 26-11-2021

2021-11-26 05:12:06 GMT (Economies.com)

Crude oil price opens today’s trading with strong decline to touch the first negative target at 76.40 and attempts to break it, which supports the chances of extending the correctional bearish wave, paving the way to head towards the next correctional level at 73.60.

 

Therefore, we will continue to suggest the bearish trend for the upcoming period supported by the negative pressure formed by the EMA50, taking into consideration that failing to confirm breaking 76.40 will push the price to achieve intraday gains that target testing 78.95 areas again before any new attempt to decline.

 

The expected trading range for today is between 74.50 support and 77.50 resistance.

The expected trend for today: Bearish

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