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Crude oil price resumes the decline – Analysis - 21-10-2022
Crude oil price bounced downwards clearly after testing 86.60 level in the previous sessions, to start pressing on 84.60 level, waiting to break this level to return to the bearish channel followed by resuming the bearish wave that targets 82.30 followed by 80.00 levels as next main stations.
Therefore, we will continue to suggest the bearish trend for the upcoming period, supported by the negative pressure formed by the EMA50, conditioned by the price stability below 86.60.
The expected trading range for today is between 82.20 support and 86.00 resistance.
The expected trend for today: Bearish
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