Crude oil price breaks the support – Analysis - 22-10-2020
Economies.com
2020-10-22 03:54AM UTC
Crude oil price bounced downwards strongly yesterday after approaching 42.00$ barrier, to break the intraday bullish channel’s support line and settles below 40.00 barrier now, which puts the price under more expected negative pressure in the upcoming sessions, on its way to visit 39.30 followed by 38.10 levels as next negative targets.
Therefore, the bearish bias will be expected for today, noting that breaching 41.10 will stop the expected decline and push the price to return to rise again.
The expected trading range for today is between 38.10 support and 41.00 resistance.
The expected trend for today: Bearish
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