Crude oil completes the negative pattern – Analysis - 29-11-2018

Economies.com
2018-11-29 05:30AM UTC

Crude oil price succeeded to break the bearish flag’s support line mentioned yesterday and settled with a daily close below it, to activate the negative effect of this pattern, reinforcing the expectations of continuing the bearish trend in the upcoming period, waiting to target 50.00 followed by 49.10 levels as next main stations.

 

The EMA50 keeps supporting the suggested bearish wave, which its continuation conditions holding below 52.60.

 

Expected trading range for today is between 49.10 support and 51.50 resistance.

 

Expected trend for today: Bearish

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