Crude oil settles at the target – Analysis - 21-12-2018
Economies.com
2018-12-21 05:05AM UTC
Crude oil price settles below the previously completed bearish flag’s support line, and the price reached the thresholds of our waited target at 45.46, while the EMA50 forms continuous negative pressure agains the price, to support the chances of breaking the mentioned level followed by opening the way to rally towards 40.00 areas that represent our next main station.
In general, we will continue to suggest the bearish trend in the upcoming sessions unless breaching 48.34 level and holding above it.
Expected trading range for today is between 44.00 support and 48.00 resistance.
Expected trend for today: Bearish
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