Commodities

Crude oil price hits the positive target – Analysis - 05-07-2022

2022-07-05 03:47:19 GMT (Economies.com)

Crude oil price succeeded to touch our waited target at 109.15 and found solid resistance there, to start today with clear negativity and hint heading to resume the bearish wave, supported by stochastic current negativity, waiting for more decline to visit 104.60 as a main target.

 

Therefore, the bearish bias will be suggested for today, noting that breaching 109.15 followed by 110.10 levels will stop the expected decline and lead the price to achieve additional gains.

 

The expected trading range for today is between 105.00 support and 110.50 resistance.

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The expected trend for today: Bearish

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