Midday update for Crude Oil 28/07/2015
Economies.com
2015-07-28 10:34AM UTC
Crude oil price didn’t show strong move since morning, to continue fluctuating around 47.00$ per barrel barrier, to keep the main negative pressure valid until now, depending on moving inside the bearish channel that appears on chart, besides the support that comes by the EMA50 for the current bearish wave.
Therefore, we are waiting to head towards 44.02 level as a next main station, reminding you with the condition of holding below 48.40 and 49.35 levels to achieve the waited targets.
Expected trading range for today is between 45.00 support and 48.40 resistance.
Expected trend for today: Bearish
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