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On June 20th, analysts at Economies have the latest opinion today: WTI crude oil prices are trading negatively, gradually moving away from the key resistance of 71.55. Through in-depth observation of the chart, we find that the price has completed a rising wedge pattern, which supports continued bearishness in the next few trading days. As a reminder, our next target is at 68.75.
Therefore, we continue to suggest a bearish trend on an intraday basis, and a break above 70.50 would further confirm the continuation of the decline. Notably, a break above 71.55 would stop the expected decline and drive prices higher.
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Today’s expected trading range is between 69.00 support and 72.40 resistance.
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