Midday update for Crude oil 24-08-2017
Economies.com
2017-08-24 09:23AM UTC
Crude oil price begins to rebound bearishly after testing 48.37 level, to keep the bearish trend scenario active for today, supported by stochastic positivity that appears clearly on the four hours' time frame, waiting to target 45.40 followed by 44.10 levels as next main stations.
Breaking 47.90 will ease the mission of achieving the suggested targets, while the bearish trend will remain valid unless breaching 48.37 followed by 48.70 levels and holding above them.
Expected trading range for today is between 46.00 support and 49.60 resistance.
Expected trend for today: Bearish
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