Crude oil retests – Analysis - 12-12-2018
Economies.com
2018-12-12 05:20AM UTC
Crude oil price retests the previously broken support of the bearish flag pattern and keeps its stability below it until now, to keep the negative effect of this pattern active, noticing that the EMA50 forms negative pressure against ther price, while stochastic reaches the overbought areas.
Therefore, we will continue to suggest the bearish trend in the upcoming sessions unless breaching 52.50 level and holding above it, reminding you that our next main target is located at 49.10.
Expected trading range for today is between 50.00 support and 53.50 resistance.
Expected trend for today: Bearish
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