Crude oil price completes negative pattern – Analysis - 18-11-2021
Economies.com
2021-11-18 05:22AM UTC
Crude oil price declined strongly yesterday to succeed breaking 79.85 and open the way to achieve more bearish correction, waiting to visit 76.40 that represents the next correctional station.
On the other hand, we notice that the price completed forming double top pattern that has negative targets that surpass the mentioned level to reach 73.60, which makes us continue suggesting the domination of the bearish trend for the upcoming period unless the price rallied to breach 79.85 and hold above it.
The expected trading range for today is between 76.00 support and 79.00 resistance.
The expected trend for today: Bearish
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