Crude oil price hits the target – Analysis - 27-02-2020

2020-02-27 05:42:58 GMT (Economies.com)
 

Crude oil price succeeded to achieve our waited target at 48.27 after the strong break to 49.40 level yesterday, showing more decline by today’s open to move below 48.00$ barrier, which supports the chances of achieving more decline on the short term and medium term basis, on its way to visit 45.55 as a next main station.

 

Therefore, the bearish trend scenario will remain dominant in the upcoming sessions conditioned by the price stability below 49.40.

 

The expected trading range for today is between 46.00 support and 49.00 resistance.

 

The expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.0809
-0.0326
2.9264%
1.2267
-0.0188
1.5090%
Tadawul
6752.19
2.50
0.04%
14.417
-0.029
0.201%
28.815
6.987
32.012%
34.94
5.00
16.70%
1620.000
-0.150
0.009%
 
 
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