Crude oil price confirms the break – Analysis - 23-01-2020
Economies.com
2020-01-23 05:36AM UTC
Crude oil price ended yesterday’s trading below 57.40 level, and begins today with more decline on its way to visit our next waited target at 54.60, which supports the continuation of the bearish trend scenario efficiently, noting that surpassing the mentioned target will lead the price to suffer more losses that reach 52.85 followed by 51.80.
Therefore, the bearish trend will remain dominant in the upcoming period unless breaching 57.40 level and holding above it.
The expected trading range for today is between 54.00 support and 57.00 resistance.
The expected trend for today: Bearish
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