Crude oil price confirms the break – Analysis - 27-01-2020
Economies.com
2020-01-27 05:52AM UTC
Crude oil price closed last week below 54.60, and begins today with bearish gap that pushes the price to approach our next waited target at 51.80, as oil price is affected by China’s virus fears, to suggest the continuation of the negative pressure in the upcoming period, noting that surpassing the mentioned target will push the price to test 50.00$ barrier as a next station.
Therefore, the bearish trend will remain dominant unless breaching 54.60 level and holding above it.
The expected trading range for today is between 51.00 support and 54.00 resistance.
The expected trend for today: Bearish
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