Crude oil within tight track – Analysis - 24-12-2018
Economies.com
2018-12-24 05:25AM UTC
Crude oil price settles around 45.46 level, and it attempted to break it, waiting to confirm the break to rally towards our next negative target that reaches 40.00.
In general, we will continue to suggest the bearish trend that depends on the price stability below 48.34, supported by the negative pressure formed by the EMA50, noting that breaching 48.34 will push oil price to start recovery attempts that target 51.46 areas initially.
Expected trading range for today is between 44.00 support and 47.00 resistance.
Expected trend for today: Bearish
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