Crude oil price approaches the target – Analysis - 26-02-2020
Economies.com
2020-02-26 05:31AM UTC
Crude oil price provided clear negative trades yesterday to approach our waited target at 49.40, moving inside and intraday bearish channel that supports the chances of achieving more decline in the upcoming sessions and break the mentioned level to open the way to head towards 48.27 that represents our next negative station.
Therefore, the bearish trend will remain dominant on the intraday and short term basis, noting that it is important to hold below 51.30 as a first condition to continue the suggested bearish wave.
The expected trading range for today is between 48.50 support and 51.30 resistance.
The expected trend for today: Bearish
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