Crude oil below the resistance – Analysis - 30-11-2018

Crude oil price kept its stability below 52.60 level, to keep the bearish trend dominant on the intraday and short term basis, supported by the negative pressure that the EMA50 continues to provide, waiting to achieve our negative targets at 50.00 followed by 49.10 again.

We should note that breaching 52.60 will stop the expected decline and lead the price to achieve gains that reach 57.46 initially.

Expected trading range for today is between 49.50 support and 52.60 resistance.

Expected trend for today: Bearish