Commodities

Midday update for Crude oil 05-07-2022

2022-07-05 09:49:07 GMT (Economies.com)

Crude oil price traded with clear negativity to move away from 109.15 level, which supports the continuation of the expected bearish trend on the intraday and short term basis, which get good support by stochastic, waiting to head towards 104.60 mainly, noting that breaching 109.15 followed by 110.10 levels will push the price to start new recovery attempts and additional gains on the intraday basis.

 

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

The expected trend for today: Bearish

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