Crude oil price begins with bearish gap – Analysis - 06-04-2020
Crude oil price opened today with strong bearish gap that put the price at 38.2% Fibonacci correction level for the rise measured from 19.90 to 29.11, which meets the intraday bullish channel’s support line that appears on the chart, to resume its positive trading strongly and surpasses 27.00$ barrier on its way to achieve more gains in the upcoming sessions.
Therefore, we will continue to suggest the bullish trend on the intraday and short term basis, reminding you that our next target reaches 30.00, while breaking 25.60 represents negative factor that will press on the price to achieve more bearish correction that its next target reaches 24.50.
The expected trading range for today is between 26.00 support and 30.00 resistance.
The expected trend for today: Bullish
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.1299
|
-0.0032
|
0.2824%
|
|
|
|
|
1.2627
|
0.0120
|
0.9579%
|
|
|
|
Tadawul
|
7416.67
|
22.41
|
0.30%
|
|
|
|
|
18.668
|
0.321
|
1.750%
|
|
|
|
|
40.155
|
-0.080
|
0.199%
|
|
|
|
|
42.79
|
0.44
|
1.04%
|
|
|
|
|
1796.180
|
10.195
|
0.571%
|
|
