Crude oil approaches the resistance – Analysis - 12-11-2018
Economies.com
2018-11-12 05:03AM UTC
Crude oil price shows some bullish bias to approach testing the bearish channel’s resistance again, located now at 61.60, accompanied by stochastic losing the positive momentum clearly and approaching the overbought areas, while the EMA50 keeps protecting trading inside the bearish channel.
Therefore, we will keep our bearish overview in the upcoming sessions unless breaching 61.60 and holding above it, noting that our next main target is located at 58.00.
Expected trading range for today is between 59.00 support and 62.00 resistance.
Expected trend for today: Bearish
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