Crude oil price rises strongly – Analysis - 29-09-2022
Economies.com
2022-09-29 04:12AM UTC
Crude oil price settled around the EMA50, and couldn’t manage to reach the minor bearish channel’s resistance line that appears on the chart, accompanied by stochastic loss to the positive momentum clearly to show big overbought signals, thus, we believe that the chances valid to rebound bearishly now and head to achieve negative targets that start at 79.35 and extend to 76.30.
Therefore, the bearish bias will be expected for today, noting that breaching 82.70 will stop the expected decline and lead the price to achieve additional gains that reach 83.10 followed by 84.45.
The expected trading range for today is between 79.00 support and 83.00 resistance.
The expected trend for today: Bearish
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