Midday update for Crude oil 10-05-2019
Economies.com
2019-05-10 10:32AM UTC
Crude oil price shows sideways trading to test the EMA50, which forms good resistance against the price, which protects the recently suggested bearish trend scenario, depending on the price stability below 62.60.
Stochastic reaches the overbought areas to support the chances of declining in the upcoming sessions, and the price needs to break 60.86 to confirm rallying towards our next correctional target at 57.33.
The expected trading range for today is between 59.70 support and 62.60 resistance.
The expected trend for today: Bearish
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