Crude Oil tests the resistance again – Analysis - 16/09/2014
Economies.com
2014-09-16 05:22AM UTC
Crude oil price traded with clear positive yesterday evening to settle at the bearish channel’s resistance again, which the EMA50 meets it to add more strength to this resistance, therefore, we believe that the chances are valid to bounce bearishly to resume the negative trading again, which its first main target is located at 90.00.
Stochastic negativity supports the suggested decline, which remains valid unless breaching 93.15 and holding above it.
Expected trading range for today is between 90.00 support and 93.50 resistance.
Expected trend for today: Bearish
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