Technical analysis: WTI crude oil price breaks below support level

On June 28, Economies’ analysts’ latest opinion today: WTI crude oil prices fell below the support line of 68.75 and closed below it yesterday, thereby activating a bearish trend in the short term and opening up a path to achieve the falling target. Targets start at 66.00 and stretch to 64.20.

Therefore, in future trades, we would recommend a bearish outlook on continued negative pressure from EMA50, noting that a break above the 68.75 and 69.35 levels would stop the expected decline and cause the price to turn positive.

Today’s expected trading range is between 66.00 support and 69.00 resistance.