Midday update for Crude Oil 24-04-2017
Economies.com
2017-04-24 11:22AM UTC
Crude oil price shows positive trading since morning to settle near 50.00 level now, while the EMA50 keeps forming negative pressure against the intraday trading, to keep the bearish trend scenario valid for today, which targets 48.37 level mainly.
Reminding you that holding below 50.35 represents an important condition for the continuation of the expected decline, where breaching it will lead the price to achieve gains that begin at 52.25 then 52.96 mainly.
Expected trading range for today is between 48.37 support and 51.10 resistance.
Expected trend for today: Bearish
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