July 11th, Economies analysts’ latest views today: WTI crude oil prices approached the key support level of 72.60 yesterday, and rebounded here, moving towards the key resistance level of 73.80. It is worth noting that the stochastic indicator is now showing positive overlap , is expected to motivate the price to continue to rise and break through the above-mentioned resistance level, providing more room for future rises, targeting 75.00 and 76.10.
Therefore, with the support of EMA50, we expect the bullish trend to continue in the future, taking into account that a breakout of 72.60 will stop the suggested increase and push the price to turn down, with a target of 71.55.
Today’s expected trading range is between the 72.10 support level and the 75.20 resistance level.