Crude oil retests – Analysis - 13-08-2018
Economies.com
2018-08-13 04:16AM UTC
Crude oil price retests the previously broken support line that turns into key resistance now at 68.06, noticing that the EMA50 meets this level to add more strength to it, accompanied by stochastic reach to the overbought areas.
Therefore, these factors encourage us to continue suggesting the bearish trend in the upcoming sessions, which its main targets located at 65.00 followed by 63.60, reminding you that it is important to hold below 68.06 to continue the the expected decline.
Expected trading range for today is between 65.50 support and 69.00 resistance.
Expected trend for today: Bearish
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