Technical analysis: WTI crude hits expected upside target

On June 19, the latest opinion of analysts at Economies today: WTI crude oil prices successfully hit our expected target of 71.55, and encountered strong resistance there, which makes the beginning of today bearish and will be in the next trading Providing an expected dip, the target is a test of 68.75 as the next major stop.

Hence, with the bearish signal provided by Stochastic we expect a drop today, with the caveat that a break above 70.25 would help achieve the expected drop, while a break above 71.55 would stop the suggested bearish wave and lead the price towards 73.80 as a downside An upside target.

The expected trading range today is between support at 69.00 and resistance at 72.00.