Commodities

Midday update for Crude oil 15-08-2022

2022-08-15 08:52:38 GMT (Economies.com)

Crude oil price continues to decline to approach our first waited target at 89.60, to keep the bearish trend scenario active for today, and we suggest the continuation of the bearish bias to visit 87.40 as a next negative station, taking into consideration that breaching 91.45 will stop the expected decline and lead the price to start new recovery attempts.

 

The expected trading range for today is between 88.00 support and 92.00 resistance.

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The expected trend for today: Bearish

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