Crude Oil still below the resistance – Analysis - 25/11/2015
Economies.com
2015-11-25 06:02AM UTC
Crude oil price keeps its stability below the first critical resistance level at 43.37 yesterday, as we mentioned in our last technical update, we wait for resuming the main bearish trend if the price settled below the mentioned level and below 44.05, supported by stochastic negativity that appears on the four hours time frame.
Therefore, we believe that the way open for heading towards our next main target at 37.73, pointing that breaking 42.40 level will ease achieving the waited target.
Expected trading range for today is between 39.00 support and 44.05 resistance.
Expected trend for today: Bearish
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