Midday update for Crude oil 08-05-2019
Economies.com
2019-05-08 10:04AM UTC
Crude oil price made new test to the bearish channel’s resistance and returns to decline now, to approach the key support 60.86, waiting to confirm breaking this level to reinforce the expectations of extending the correctional bearish wave on the short term basis, as our next main target is located at 57.33, to keep the bearish trend dominant in the upcoming sessions conditioned by the price stability below 62.60.
The expected trading range for today is between 59.50 support and 62.60 resistance.
The expected trend for today: Bearish
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