Midday update for Crude oil 09-12-2019
Economies.com
2019-12-09 10:40AM UTC
Crude oil price continues to decline calmly on its way for potential test to 58.00 barrier initially, as the price is affected by stochastic negativity, while the price still inside the bullish channel that appears on the chart.
In general, the bullish trend scenario will remain valid as long as the price is above 57.40, supported by the EMA50 that carries the price from below, reminding you that our next main target is located at 60.90.
The expected trading range for today is between 57.40 support and 60.90 resistance.
The expected trend for today: Bullish
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