Midday update for Crude Oil 06/10/2015
Economies.com
2015-10-06 10:40AM UTC
Crude oil price trades with slight negativity moving away gradually from the critical resistance level at 46.85, reinforcing the expectations of the bearish trend continuation in the upcoming period, supported by the bearish trend signals that come from stochastic.
Therefore, we wait for breaking 44.10 then 43.37 barriers to open the way towards targeting 37.73 level as a main target for the current bearish wave, reminding you that holding below 46.85 level conditioned for achieving the suggested targets.
Expected trading range for today is between 43.00 support and 48.40 resistance.
Expected trend for today: Bearish
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