Technical analysis: WTI crude oil prices fall and rebound

On June 15th, the analysts of Economies have the latest opinion today: WTI crude oil price encountered strong resistance at EMA50, which prevented the price from rising further, rebounded obviously and broke through and stabilized below 68.75. Under further downward pressure, targets start at 66.00 and extend to 64.20.

As such, we expect to see more of a bearish bias today, with a break above 67.60 helping to achieve the suggested target, taking into account that a break above 68.75 would halt the decline and guide the price back up again.

Today’s expected trading range is 66.40 support and 69.50 resistance.