Crude oil price attempts to recover – Analysis - 20-09-2019

Crude oil price provided positive trades on yesterday’s evening and attempted to surpass 59.00$ barrier, but it returns to fluctuate around 58.50, noticing that stochastic provides negative signals now, waiting to motivate the price to resume the bearish bias and break 57.42 level to confirm opening the way to head towards 54.60 that represents our next main target.

Therefore, we will keep our bearish overview for today, taking into consideration that breaching 59.00 level again might push the price to test 60.92 areas before any new attempt to decline.

The expected trading range for today is between 56.50 support and 60.00 resistance.

The expected trend for today: Bearish