Crude oil resumes the decline – Analysis - 13-11-2018
Economies.com
2018-11-13 05:10AM UTC
Crude oil price provide strong negative trades yesterday to press on 59.00 level and attempts to break it, which supports the continuation of our bearish overview on the intraday and short term basis, reminding you that our next target is located at 58.00, while the current bearish channel has negative targets that reach 56.65.
Therefore, we will keep our bearish trend scenario supported by the EMA50 unless breaching 61.00 level and holding above it.
Expected trading range for today is between 57.00 support and 60.50 resistance.
Expected trend for today: Bearish
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