Technical analysis: WTI crude hits expected upside target

June 19, Economies analysts’ latest views today: WTI crude oil prices successfully hit our expected target of 71.55, and encountered strong resistance there, which makes today start with a bearish bias and will be in the next trading The expected decline is provided in , with the aim of testing 68.75 as the next major stop.

Hence, with the bearish signal provided by Stochastic we expect a drop today, with the caveat that a break above 70.25 would help achieve the expected drop, while a break above 71.55 would stop the suggested bearish wave and lead the price towards 73.80 as a downside An upside target.

The expected trading range today is between support at 69.00 and resistance at 72.00.