WTI crude oil closes below 68.75, strengthening bearish expectations

On June 1, the analysts of Economies.com have the latest opinion today: WTI crude oil price closed below 68.75 yesterday, which strengthened the expectation of continued decline. The next target starts from 67.00 and extends to 65.30.

EMA50 is forming negative pressure on the price to support the continuation of the downtrend, Stochastic is also starting to lose its bullish signal.

If the price breaks through 68.75, it will stop the decline and guide the price to try to rise in the day. Today’s expected trading range is between 66.70 and 70.00.