Midday update for Crude oil 06-02-2019
Economies.com
2019-02-06 10:32AM UTC
Crude oil price resumes its negative trading clearly now to move away from the previously broken support line of the rising wedge pattern, which support sthe chances of continuing the bearish trend for the rest of the day, which its next main target located at 51.46, noting that breaking this level will extend oil price losses to reach 48.50 on the near term basis, while breaching 54.40 will stop the current negative pressure and push the price to rise again.
The expected trading range for today is between 51.45 support and 54.40 resistance.
The expected trend for today: Bearish
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