Crude Oil settles negatively 21/02/2013

Economies.com
2013-02-21 05:46AM UTC

Crude oil closed yesterday’s trading below the broken neckline for the double top pattern at 95.20, and as we mentioned in the technical update massages, this factor is considered as the activation key for the negative effect of the pattern, to provide descending targets starting at 93.25 and extend to reach 92.20

 

EMA50 attempts to protect the price from suffering more losses, but overall, the bearish bias remains preferred unless 95.20 was breached. 

 

Expected trading range for today is between: 92.20 support and 96.00 resistance.

 

Expected trend for today: Bearish

 

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