Crude oil price provided negative trades yesterday to reach 74.60 areas, and bounced upwards clearly after leaning on the EMA50 that forms strong support against the price, noticing that the price begins today with more positivity to breach 76.10 key resistance and settles above it, which stops the recently suggested negative scenario and lead the price to turn to rise, on its way to achieve positive targets that start at 78.00 followed by 78.90.
Therefore, we expect to witness more bullish bias in the upcoming sessions, and breaching 76.45 will reinforce the positive overview, noting that breaking 76.10 will stop the expected rise and push the price to decline again.
The expected trading range for today is between 75.00 support and 78.00 resistance.
The expected trend for today: Bullish