Crude oil price suffers strong losses – Analysis - 28-11-2022
Economies.com
2022-11-28 04:41AM UTC
Crude oil price ended last Friday with strong negativity to settle at 76.05 level, starting today with additional strong decline to break the mentioned level and reach 74.00 areas now, which pushes the price to suffer more expected losses in the upcoming period, opening the way to head towards 72.60 areas as a next main station.
Therefore, the bearish bias will be expected for today, supported by the negative pressure formed by the EMA50, taking into consideration that breaching 76.05 will stop the suggested decline and lead the price to attempt to recover again.
The expected trading range for today is between 72.00 support and 75.70 resistance.
The expected trend for today: Bearish
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