Crude oil price under the negative pressure – Analysis - 29-06-2020
Economies.com
2020-06-29 04:35AM UTC
Crude oil price closed last Friday below 38.85, showing more decline inside the bearish channel that appears on the chart to head towards achieving expected negative targets in the upcoming sessions, starting from 36.10 and extend to 32.40 after surpassing the previous level.
Therefore, the bearish bias will be suggested for today, supported by moving below the EMA50, noting that breaching 38.50 is considered as initial positive key to regain the main bullish trend and stop the current negative pressure.
The expected trading range for today is between 36.00 support and 39.00 resistance.
The expected trend for today: Bearish
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