Crude oil price shows mixed trades – Analysis - 16-10-2020
Economies.com
2020-10-16 04:00AM UTC
Crude oil price returned to settle above 40.00 after the mixed trades that it witnessed yesterday, which keeps the bullish trend scenario valid and active for the upcoming period, and the price needs to surpass 41.30 to confirm opening the way to head towards our next main target that reaches 43.05.
Therefore, we are waiting for more rise in the upcoming sessions, noting that breaking 40.00 and holding below it will put the price under new negative pressure that targets testing 38.50 before determining the next destination clearly.
The expected trading range for today is between 39.40 support and 42.50 resistance.
The expected trend for today: Bullish
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