Crude oil price keeps achieving targets – Analysis - 28-02-2020
Economies.com
2020-02-28 05:50AM UTC
Crude oil price shows more decline to approach our waited target at 45.55, moving inside bearish channel that supports the chances of achieving more decline in the upcoming sessions, besides the negative pressure formed by the EMA50, noting that surpassing the mentioned level will push the price to 43.30 as a next main station.
Therefore, the bearish trend will remain dominant on the intraday and short term basis, noting that breaching 47.90 might push the price to test 49.40 areas initially before any new attempt to decline.
The expected trading range for today is between 44.00 support and 47.00 resistance.
The expected trend for today: Bearish
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