Crude oil price is affected by the negative momentum – Analysis - 19-08-2022
Economies.com
2022-08-19 04:18AM UTC
Crude oil price shows some bearish bias to test the EMA50, affected by stochastic negativity, waiting to get positive momentum that assists to push the price to resume the correctional bullish trend, which targets 94.50 as a next main station.
Therefore, we will continue to suggest the bullish trend for the upcoming period conditioned by the price stability above 89.05, as breaking it will press on the price to decline again and head to test 87.75 followed by 86.36 levels initially.
The expected trading range for today is between 88.00 support and 92.00 resistance.
The expected trend for today: Bullish
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