Commodities

Crude oil price surpasses the target – Analysis - 23-02-2021

2021-02-23 04:56:37 GMT (Economies.com)

Crude oil price rallied upwards strongly to succeed touching our waited target at 62.00, and breached it to close the candlestick above it, which supports the continuation of the bullish trend on the intraday and short term basis, paving the way to head towards 65.60 that represents the next main station.

 

Therefore, the bullish trend will remain suggested in the upcoming period, noting that breaking 61.60 might force the price to provide temporary negative trades before turning back to rise again.

 

The expected trading range for today is between 61.00 support and 64.00 resistance.

The expected trend for today: Bullish

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