Crude oil price breaks the support – Analysis - 31-07-2020

Economies.com
2020-07-31 00:45AM UTC

Crude oil price broke 40.50 level strongly and closed the daily candlestick below it, which opens the way to provide expected negative trades in the upcoming sessions, on its way to visit 38.50 followed by 36.10 levels as next negative stations.

 

Therefore, the bearish bias will be expected for today, taking into consideration that breaching 40.50 and holding above it will stop the negative scenario and push the price back to the sideways track again.

 

The expected trading range for today is between 38.50 support and 41.50 resistance.

The expected trend for today: Bearish

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