Crude oil is stable – Analysis - 08-11-2018
Economies.com
2018-11-08 05:08AM UTC
Crude oil price settles below 62.00 level, and it keeps moving inside the bearish channel that appears on the chart, while the EMA50 forms continuous negative pressure that supports the chances of continuing the bearish trend in the upcoming period.
Therefore, we will keep our bearish overview unless breaching 62.90 level and holding above it, noting that our waited targets begin at 60.00 and extend to 58.65.
Expected trading range for today is between 60.00 support and 62.90 resistance.
Expected trend for today: Bearish
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