Crude oil loses momentum – Analysis - 19-06-2018
Economies.com
2018-06-19 03:39AM UTC
Crude oil price’s bullish rally stopped at the previously broken support of the intraday bullish channel that turns into key resistance now at 66.05, as the EMA50 meets this level to add more strength to it, noticing that stochastic shows clear overbought signals.
Therefore, these factors encourage us to suggest the negative trading in the upcoming sessions, conditioned by the price stability below 66.05, noting that our next main target is located at 63.78.
Expected trading range for today is between 63.50 support and 67.00 resistance.
Expected trend for today: Bearish
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