Technical analysis: WTI crude oil prices maintained their upward trend on July 7

On July 7th, analysts from Economies have the latest view today: WTI crude oil prices closed above 71.55 after a sharp fall yesterday, so they maintain their upward expectations, and the next main target is 73.80.

EMA50 supports the price and protects the continuation of the short-term uptrend. It should be noted that if the price breaks below 71.55 and extends to 70.65, then it will stop rising and turn down. The target below is 68.75, and then try to rise again.

Today’s expected trading range is between 70.50 support and 73.80 resistance.