Crude oil loses momentum – Analysis - 22-10-2018
Economies.com
2018-10-22 04:30AM UTC
Crude oil price settled above 69.19, but we notice that stochastic shows overbought signals now, while the EMA50 forms negative pressure against the price.
Therefore, we believe that chances are valid to resume the bearish trend in the upcoming sessions, which its targets begin by breaking 69.19 to confirm extending the bearish wave towards 66.85, taking into consideration that breaching 70.66 will stop the negative scenario and lead the price to regain the main bullish trend again.
Expected trading range for today is between 67.50 support and 70.66 resistance.
Expected trend for today: Bearish
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