Crude oil price around the moving average – Analysis - 29-11-2023
Economies.com
2023-11-29 04:04AM UTC
Crude oil price settles around the EMA50, noticing that the price loses the positive momentum clearly, which supports the chances of bouncing bearishly to resume the bearish trend on the intraday basis, waiting to visit 73.73 mainly.
Therefore, we expect to witness negative trades in the upcoming sessions, taking into consideration that the continuation of the rise and breaching 77.86 will stop the expected decline and lead the price to turn to rise on the intraday and short-term basis.
The expected trading range for today is between 74.70 support and 77.60 resistance.
The expected trend for today: Overall bearish
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