Crude oil price attempts to breach – Analysis - 14-11-2019

Crude oil price ended yesterday’s trading at 57.40 level, and begins today with a new bullish bias to move above it, easing the way for the price turn to the upside, but we need to get a new daily close above this level to confirm the continuation of the bullish trend in the upcoming sessions.

Therefore, we prefer staying aside now until getting a clearer signal for the next trend, pointing that holding above the mentioned level will lead the price to achieve extra gains that reach to 60.90, while the trading below it again will reactivate the intraday bearish trend scenario that targets 56.00 then 54.60 levels mainly.

The expected trading range for today is between 56.00 support and 59.00 resistance.

The expected trend for today: Neutral