Crude oil price achieves the first target – Analysis - 19-09-2019

Crude oil price reached the first target at 57.42 and bounced bullishly to move above 58.00 now, affected by stochastic positivity, and we still suggest witnessing additional negative trades to cover the bearish gap that appears by this week opening, waiting to break the mentioned level to confirm rallying towards 54.60 as a next main target.

Therefore, we will continue to suggest the bearish trend in the upcoming sessions, noting that failing to break 57.42 will push the price to test 60.92 areas before any new attempt to decline.

The expected trading range for today is between 56.00 support and 59.30 resistance.

The expected trend for today: Bearish