Crude oil tests the key resistance – Analysis - 27-11-2018

Crude oil price ended yesterday at the key resistance 51.46, starting today with slight bearish bias in attempt to resume the bearish trend, which keeps the bearish trend scenario valid for the upcoming period, waiting to target 50.00 followed by 49.10 levels as next main stations.

We should note that confirming breaching 51.46 will push the price to achieve more gains on the intraday basis, to target areas that start at 54.74 and might extend to 57.46.

Expected trading range for today is between 49.50 support and 52.50 resistance.

Expected trend for today: Bearish