Crude oil collapses again – Analysis - 21-11-2018
Economies.com
2018-11-21 05:12AM UTC
Crude oil price suffered new strong losses to confirm surpassing our first target at 54.75, as the price settles below it, opening the way to head towards our next target at 51.46, which represents 50% Fibonacci correction level for the rise measured from 26.04 to 76.88.
Therefore, the bearish trend will remain suggested in the upcoming sessions, noting that breaching 54.75 might push the price to test 57.46 level before any new attempt to decline
Expected trading range for today is between 52.00 support and 56.00 resistance.
Expected trend for today: Bearish
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