On May 8, the analysts of Economies.com have the latest views today: WTI crude oil prices closed around the 71.55 level last Friday, noting that today’s price has begun to show new positive signals, trying to break through the 71.55 level, which implies that in the next few months Additional gains should be realized during the session, with a break above this level taking the price to the next positive target at 73.80.
As such, we expect more bullish signals to emerge intraday, considering a consolidation phase at the 71.55 level, which could take the price to the area around 68.75.
Expect today’s trading range to be between 70.00-73.50.