Crude oil faces negative pressure – Analysis - 11-09-2018

Crude oil price approaches testing the key support 67.08 after the decline that it witnessed yesterday, but we notice that stochastic reaches the oversold areas, which forms positive factor that we are waiting to assist to push the price to rise again, and it needs to braech 68.73 to confirm rallying towards our next positive target that reaches 71.38.

In general, we will continue to suggest the bullish trend conditioned by the price stability above 67.08, as breaking this level will complete forming negative pattern that has the ability to push the price to suffer losses that reach 64.43 mainly.

Expected trading range for today is between 66.50 support and 69.74 resistance.

Expected trend for today: Bullish