Crude oil price begins negatively – Analysis - 17-10-2019
Economies.com
2019-10-17 04:53AM UTC
Crude oil price shows slight bearish bias after testing the EMA50, waiting for more decline to visit 51.80 level that represents our first main target, supported by the negative signal provided by stochastic.
In general, we will continue to suggest the bearish trend in the upcoming period conditioned by the price stability below 54.60, reminding you that surpassing the first target will extend the bearish wave to reach 50.00$ barrier as a next main station.
The expected trading range for today is between 51.00 support and 54.00 resistance.
The expected trend for today: Bearish
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