July 18, Economies analysts’ latest opinion today: WTI crude oil prices have found a solid support base at 73.80 and are now showing some bullish tendencies. Technical indicators provide positive signals that may push prices to try to resume their rise again.
But it is still below the support line of the bullish channel, and in the face of conflicting technical indicators, we prefer to stay on the sidelines until we get a clearer signal of the next trend.
It should be noted that a break below the support line of 73.80 will push the price to continue to fall towards the level of 72.70 and 71.55 as the next target, while if the price breaks the resistance line formed by 74.85, it represents a return to the bullish track and moves towards The upside target of 76.10 is moving forward.
Today’s expected trading range is between 72.60 support and 76.10 resistance.
