Crude oil price loses momentum – Analysis - 28-01-2020

2020-01-28 06:00:36 GMT (Economies.com)
 

Crude oil price settles around 53.00 barrier after approaching our waited target at 51.80 yesterday, noticing that stochastic loses its positive momentum clearly, which supports the chances of resuming the expected bearish trend for the upcoming period, which its targets begin by surpassing the mentioned target to confirm extending the bearish wave towards 50.00.

 

Therefore, our bearish overview will remain valid on the intraday and short term basis conditioned by the price stability below 54.60.

 

The expected trading range for today is between 51.00 support and 54.00 resistance.

 

The expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.0979
0.0164
1.5132%
1.2875
-0.0072
0.5599%
Tadawul
7628.34
-82.78
1.07%
17.869
-0.624
3.374%
46.589
-6.744
12.645%
51.82
-1.62
3.03%
1652.370
8.725
0.531%
 
 
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