Crude oil price loses momentum – Analysis - 26-05-2020
Economies.com
2020-05-26 00:24AM UTC
Crude oil price provided new positive trades yesterday to approach 34.60 level, noticing that the price started to provide bearish rebound signals now, as stochastic provides negative signals that we are waiting to assist to push the price to resume the expected correctional bearish trend for the upcoming period, which its main target located at 28.80.
Therefore, we will keep our bearish overview unless the price rallied to breach 34.60 and hold with a daily close above it.
The expected trading range for today is between 31.50 support and 35.00 resistance.
The expected trend for today: Bearish
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