Crude oil price attacks the support – Analysis - 14-05-2019
Economies.com
2019-05-14 00:42AM UTC
Crude oil price traded with strong negativity to press on 60.86 level and moves below it now, which reinforces the expectations of achieving more decline on the short term basis, paving the way to head towards 57.33 that represents 38.2% Fibonacci correction level for the entire rise measured from 42.36 to 66.58.
Therefore, the bearish trend will remain suggested in the upcoming sessions unless the price rallied to breach 62.20 level and hold with a daily close above it.
The expected trading range for today is between 59.00 support and 62.20 resistance.
The expected trend for today: Bearish
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