Commodities

Crude oil price keeps its negative stability – Analysis - 03-12-2021

2021-12-03 02:35:36 GMT (Economies.com)

Crude oil price tested 67.40 level and kept its stability below it, to start today with new negativity and attempt to move away from this level, which supports the continuation of the bearish trend domination in the upcoming sessions, reinforced by stochastic reach to the overbought areas, waiting to visit 61.85 as a next main target.

 

We should note that breaching 67.40 and holding above it will stop the suggested negative scenario and push the price to achieve additional gains on the intraday basis.

 

The expected trading range for today is between 63.50 support and 68.00 resistance.

The expected trend for today: Bearish

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