Crude oil price continues to decline – Analysis - 12-02-2021
Economies.com
2021-02-12 05:01AM UTC
Crude oil price managed to break the negative pattern’s support line mentioned yesterday, to trade negatively and approaches our waited target at 57.17, to keep the bearish bias suggested for today, noting that breakin the mentioned level will extend the correctional bearish wave to reach 56.11 as a next station.
On the other hand, we should note that breaching 58.90 will stop the expected decline and leads the price to resume the main bullish trend again.
The expected trading range for today is between 56.00 support and 59.00 resistance.
The expected trend for today: Bearish
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