Advertisements

Technical analysis: WTI crude oil prices complete rising wedge pattern

by admin

On June 20th, analysts at Economies have the latest opinion today: WTI crude oil prices are showing negative trading, gradually moving away from the key resistance of 71.55. Through in-depth observation of the chart, we find that the price has completed a rising wedge pattern, which supports continued bearishness in the next few trading days , to remind you that our next target is at 68.75.

Therefore, we continue to suggest a bearish trend on an intraday basis, and a break above 70.50 would further confirm the continuation of the decline. Notably, a break above 71.55 would stop the expected decline and drive prices higher.

Advertisements

Today’s expected trading range is between 69.00 support and 72.40 resistance.

Advertisements
Advertisements
Advertisements

You may also like

oftrb logo

Oftrb.com is a comprehensive energy portal, the main columns include crude oil prices, energy categories, EIA, OPEC, crude oil news, basic knowledge of crude oil, etc.

【Contact us: [email protected]

© 2023 Copyright oftrb.com – Crude Oil Market Quotes, Price Chart live & News [[email protected]]