Midday update for Crude oil 22-01-2018
Economies.com
2018-01-22 11:15AM UTC
Crude oil price shows some slight bearish bias after testing the correctional bearish channel’s resistance, accompanied by stochastic move near the overbought areas, reinforcing the expectations of continuing the correctional bearish trend that its targets begin by breaking 62.80 level to confirm opening the way to head towards 61.50, taking into considartion that breaching 63.80 will motivate the price to start recovery attempts and regain the main bullish trend again.
Expected trading range for today is between 61.50 support and 64.88 resistance.
Expected trend for today: Bearish
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