Crude oil collapses – Analysis - 14-11-2018
Economies.com
2018-11-14 05:04AM UTC
Crude oil price suffered sharp losses yesterday to touch our next target mentioned in our last technical update at 55.00, noticing that the price broke 38.2% Fibonacci correction level for the entire rise measured from 26.04 to 76.88, which hints the price head to target the next correctional level at 51.46.
Therefore, we suggest the continuation of the bearish trend domination in the upcoming sessions unless breaching 57.46 level and holding above it.
Expected trading range for today is between 53.40 support and 56.50 resistance.
Expected trend for today: Bearish
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