Crude oil price suffers sharp losses – Analysis - 18-09-2019
Economies.com
2019-09-18 04:54AM UTC
Crude oil price declined sharpl yesterday to settle below 59.00, which makes us prefer witnessing more of the downside moves in the upcoming sessions, where the price returns to the bearish correctional track, waiting fpr testing 57.42 level initially.
Therefore, the bearish bias will be preferred for today, and breaking the mentioned level will extend the bearish wave to reach 54.60 on the near term basis, while the expected decline will remain valid unless the price rallied to breach 60.92 level and holding above it.
The expected trading range for today is between 57.00 support and 60.00 resistance.
The expected trend for today: Bearish
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