Crude oil price achieves some gains – Analysis - 07-05-2019
Economies.com
2019-05-07 02:16AM UTC
Crude oil price traded with clear positivity yesterday to test the correctional bearish channel’s resistance that appears on the chart, accompanied by witnessing clear overbought signals through stochastic, which forms negative factor that we expect to push the price to resume the correctional bearish wave, noting that breaking 60.86 will confirm rallying towards 57.33 that represents the next main target.
Therefore, we will keep our bearish overview for today unless breaching 62.75 level and holding above it.
The expected trading range for today is between 60.00 support and 63.30 resistance.
The expected trend for today: Bearish
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