Crude oil price resumes the decline – Analysis - 29-10-2020
Economies.com
2020-10-29 04:15AM UTC
Crude oil price provided strong negative trades yesterday and begins pressing on 37.00 barrier, as it moves inside an intraday bearish channel that supports the chances of achieving more decline in the upcoming sessions, reminding you that our next target is located at 36.10, while breaking it represents negative factor that will extend the bearish wave to reach 34.30 as a next target.
Therefore, we will continue to suggest the bearish trend on the intraday and short term basis conditioned by the price stability below 39.35
The expected trading range for today is between 35.50 support and 38.50 resistance.
The expected trend for today: Bearish
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