Crude oil price resumes the decline – Analysis - 08-08-2022

2022-08-08 03:51:02 GMT (Economies.com)
 

Crude oil price bounced downwards clearly after approaching the main bearish channel’s resistance, to resume the main bearish trend, which its targets begin by surpassing 87.40 level to ease the mission of heading towards 85.90 as a next negative station.

 

The EMA50 and stochastic provide negative signals that support the expected decline, which will remain valid conditioned by the price stability below 90.55.

 

The expected trading range for today is between 85.90 support and 90.00 resistance.

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The expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
0.9802
0.0147
1.5193%
1.1165
0.0345
3.1856%
19.049
0.190
1.008%
80.050
0.756
0.953%
87.96
-0.53
0.60%
1664.495
19.135
1.163%
 
 
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