Crude oil price hits the target – Analysis - 14-08-2019
Economies.com
2019-08-14 05:12AM UTC
Crude oil price begins to rebound bearishly after it managed to achieve our waited target at 57.33, which hints the price head to resume the correctional bearish wave, on its way to visit 54.47 level as a next main station.
Therefore, we expect witnessing negative trades today, supported by the overbought signals that appear through stochastic, noting that breaching 57.33 will stop the negative scenario and lead the price to achieve more gains that reach 60.86 on the near term basis.
The expected trading range for today is between 54.50 support and 57.50 resistance.
The expected trend for today: Bearish
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