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On June 5, the analysts of Economies.com have the latest opinion today: WTI crude oil was affected by the reduction of oil production in Saudi Arabia, and opened a strong rise, hitting our waiting target of 73.80, noting that the price encountered strong resistance at this level, showing There is a slight downward tendency.
However, oil prices still tend to rise, and the next target is 76.10. Therefore, the uptrend will remain valid and active for some time to come, possibly subject to stochastics providing bearish signals.
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It should be noted that a break below 71.55 will stop the expected rise and push the price down.
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Today’s expected trading range is between 71.20 support and 74.50 resistance.
