Technical analysis: WTI crude hits first target on July 4

July 4th, Economies analysts’ latest views today: WTI crude oil prices encountered solid resistance at the first target of 71.55, then fell back and tested the EMA50 supporting the price, while the stochastic indicator provided a clear bullish signal, Waiting to push the price to resume the expected bullish trend within the day, it is worth noting that a break of 71.55 will push the price to 73.80.

Therefore, in the future we will continue to recommend bullish, it is worth noting that a break of 69.85 will push the price to achieve further declines and test the most important support level of 68.75 before any fresh increase.

Today’s expected trading range is between 69.00 support and 72.00 resistance.