Crude oil price declines again – Analysis - 15-11-2019

Crude oil price ended yesterday’s trading below 57.40, activating the bearish trend scenario again, and the price needs to break 56.80 level to ease the mission of achieving the expected negative tragets that begin at 55.45 and extend to 54.60.

Therefore, we wait for more of the downside moves for today, being aware that braeching 57.40 and holding above it will stop the suggested negative scenario and leads the pice to achieve new gains that begin at 58.80 and extend to 60.90.

The expected trading range for today is between 54.45 support and 58.80 resistance.

The expected trend for today: Bearish