Crude oil price awaits the break – Analysis - 09-10-2019
Economies.com
2019-10-09 04:39AM UTC
Crude oil price finds a strongs support base at 51.80 barrier, affected by stochastic positivity to show more of the slight bullish bias, but we notice that the EMA50 keeps pressing negatively on the price, waiting for breaking the mentioned level and confirming the extension of the beraihs wave to 50.00 that represents our next main target.
In general, we keep preferring the bearish trend on the intraday and short term basis unless the price rally to breach 54.60 level and holding with a daily close above it.
The expected trading range for today is between 50.50 support and 53.50 resistance.
The expected trend for today: Bearish
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