Technical analysis: WTI crude oil prices resumed rising on July 5

On July 5, analysts from Economies have the latest opinion today: WTI crude oil prices have prevented further price declines and resumed their rise under the support of EMA50. They are currently close to 71.55, waiting to break through this level and go to the next target of 73.80.

So we will remain bullish and wait for positive momentum to push the price to break out and rise towards the target level, note that a break below 69.85 will bring the price back down and there won’t be any fresh gains before a test of 68.75 try.

Today’s expected trading range is between 69.85 support and 72.80 resistance.