Midday update for Crude Oil 23-03-2017
Economies.com
2017-03-23 11:19AM UTC
Crude oil price keeps fluctuating near 48.37 level and settled below it, which keeps the negative pressure valid until now, especially that stochastic shows clear overbought signals now, to support the chances for bouncing lower and resuming the bearish bias in the upcoming sessions.
Therefore, we will keep our bearish trend expectations that targets 44.10 level as a next main station, while its continuation conditioned by holding below 48.37 and 49.10 levels.
Expected trading range for today is between 46.00 support and 50.00 resistance.
Expected trend for today: Bearish
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