Crude oil confirms the break – Analysis - 19-10-2018
Economies.com
2018-10-19 04:01AM UTC
Crude oil price confirmed breaking 69.19 level after closing the daily candlestick below it, reinforcing the chances of continuing the bearish trend on the short term basis, to head towards visiting 66.85 level as a next main station, supported by the negative pressure formed by the EMA50.
We should note that holding below 69.19 is important to continue the expected decline, as breaching it will push the price to start recovery attempts that target testing 70.66 level initially.
Expected trading range for today is between 67.00 support and 70.00 resistance.
Expected trend for today: Bearish
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