Crude oil price breaks the support – Analysis - 14-05-2021
Economies.com
2021-05-14 04:49AM UTC
Crude oil price traded with strong negativity yesterday to break the bullish channel’s support line and settles below it, and by taking a deeper look at the chart, we find that the price completed forming double top pattern that has negative targets that reach 61.15 and extend to 59.85.
Therefore, we suggest the domination of the bearish bias in the upcoming sessions unless breaching 64.20 and holding above it.
The expected trading range for today is between 62.00 support and 65.00 resistance.
The expected trend for today: Bearish
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