Midday update for Crude oil 16-06-2021
Economies.com
2021-06-16 09:38AM UTC
Crude oil price shows some bearish bias now to head towards potential test to the bullish channel’s support line, and as we mentioned this morning, the price needs to hold above 71.35 to keep the bullish trend valid for the upcoming period, as breaking this level will press on the price to start correctional bearish wave on the intraday basis, while the next positive target of the suggested bullish wave is located at 74.00.
The expected trading range for today is between 71.50 support and 74.00 resistance.
The expected trend for today: Bullish
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