Midday update for Crude Oil 21-03-2017
Economies.com
2017-03-21 11:14AM UTC
Crude oil price shows slight bullish bias to test the EMA50, which keeps forming negative pressure on the intraday trading, noticing that stochastic keeps losing the positive momentum on the intraday time frame.
Therefore, we keep preferring the bearish trend in the upcoming sessions unless breaching 50.70 level and holding above it, reminding you that breaking 48.37 level will confirm opening the way towards our next main target at 44.10.
Expected trading range for today is between 46.00 support and 50.70 resistance.
Expected trend for today: Bearish
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