Technical analysis: WTI crude oil prices test support levels

May 19th, Economies analysts’ latest views today: WTI crude oil prices continue to fall, testing the key support level of 71.55, relying on this level to start a bullish rebound at the opening of today’s trading, accompanied by a clear positive signal from the stochastic indicator, while EMA50 meets The above support adds more kinetic energy to it.

These factors therefore suggest a bullish trend for some time to come, with the caveat that our expected target starts at 73.80 and extends to 76.10, a break above 71.55 will halt the positive scenario and push prices lower again. Expect today’s trading range to be between 71.20-74.20.