End of day analysis for Crude Oil 27-04-2017
Economies.com
2017-04-27 19:44PM UTC
Crude oil price succeeded to touch our waited target at 48.37 and bounced strongly to the upside from there to test the previously broken low that turns into resistance now at 49.19, accompanied by stochastic reach to the overbought areas, which supports the chances of bouncing bearishly to resume the bearish trend inside the bearish channel that appears on chart.
Therefore, the decline will remain expected for the upcoming period unless breaching 49.50 followed by 50.35 levels and holding above them.
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