Crude Oil retests again – Analysis - 26/11/2015

Crude oil price returns to test 43.37 level, keeping its stability below this level, accompanied by the overbought signal that come from stochastic, which represents negative factor that we wait to motivate the price to bounce lower and resumes the main bearish trend, which its next main target at 37.73.

We remind you that holding below 43.37 and 44.05 levels represents an important condition for achieving the suggested decline, where breaching these levels will push the price to recovery attempts that its initial targets begin at 46.85 before any new attempt to decline.

Expected trading range for today is between 40.00 support and 44.50 resistance.

Expected trend for today: Bearish