Midday update for Crude oil 01-11-2018

Crude oil price resumes its negative trading to approach our first waited target at 64..43, waiting for more decline to break the mentioned level and open the way to target 63.60 followed by 62.00 levels as next main stations, as the EMA50 forms continuous negative pressure against the price.

Holding below 65.75 represents the first condition to continue the expected decline, as breaching it will push the price to test 67.40 areas before any new attempt to decline.

Expected trading range for today is between 63.00 support and 66.00 resistance.

Expected trend for today: Bearish