Crude oil keeps declining – Analysis - 05-11-2018
Economies.com
2018-11-05 04:59AM UTC
Crude oil price shows more bearish bias to gradually approach our waited target at 62.00, reinforcing the expectations of continuing the bearish trend on the intraday and short term basis, organized inside the bearish channel that appears on the chart, noting that surpassing the mentioned level will extend the bearish wave to reach 61.05.
The EMA50 keeps supporting the suggested bearish wave, which its continuation conditions holding below 64.43.
Expected trading range for today is between 61.05 support and 64.00 resistance.
Expected trend for today: Bearish
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