Crude oil achieves some temporary gains – Analysis - 27-04-2017
Economies.com
2017-04-27 04:28AM UTC
Crude oil price resumed its negative trading after approaching from 50.35 level yesterday, and starts to test the key support 49.19 again, noticing that stochastic reaches the overbought areas now, which forms negative factor that we are waiting to assist to push the price to break the mentioned support and confirm opening the way to head towards 48.37 that represents our next main target.
Therefore, the bearish trend will remain suggested in the upcoming period conditioned by the price stability below 50.35.
Expected trading range for today is between 48.00 support and 50.35 resistance.
Expected trend for today: Bearish
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