Crude oil price attempts to recover – Analysis - 25-05-2020

2020-05-25 02:09:54 GMT (Economies.com)
 

Crude oil price provided positive trades on last Friday, but it started to rebound bearishly after approaching the broken support of the bullish channel, which keeps the bearish trend scenario for the upcoming period, which targets 28.80 mainly.

 

Thus, we are waiting for negative trades today, noting that breaching 34.10 followed by 34.60 levels will stop the suggested decline and push the price to resume the main bullish trend, which its next target located at 36.00.

 

The expected trading range for today is between 30.00 support and 34.60 resistance.

The expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.1314
-0.0017
0.1509%
1.2651
0.0144
1.1550%
Tadawul
7416.67
22.41
0.30%
18.670
0.324
1.763%
40.085
-0.150
0.373%
42.79
0.44
1.04%
1800.410
14.425
0.808%
 
 
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