Midday update for Crude Oil 10/02/2016
Economies.com
2016-02-10 11:02AM UTC
Crude oil price keeps its stability below 29.40 level, keeping the negative pressure valid for today, supported by the EMA50 that keeps pushing the price from below, waiting for targeting 25.48 level as a next main station.
Therefore, we will keep our bearish trend expectations in the upcoming period if the price settled below 32.56 level, where breaching this level represents the key for the price rally towards 35.13 before any new attempt to decline.
Expected trading range for today is between 26.00 support and 30.00 resistance.
Expected trend for today: Bearish
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