Crude oil activates the negative pattern – Analysis - 18-12-2018
Economies.com
2018-12-18 05:04AM UTC
Crude oil price succeeded to achieve our first waited target at 49.10 after confirming breaking the symmetrical triangle’s support line yesterday, and it has negative motive that supports our expectations to continue the decline on the short term basis, as the next negative target extends to reach 47.00.
Therefore, we are waiting for more decline in the upcoming sessions supported by the negative pressure formed by the EMA50, noting that the continuation of the bearish trend conditions the price stability below 51.46.
Expected trading range for today is between 47.50 support and 50.70 resistance.
Expected trend for today: Bearish
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