Midday update for Crude oil 11-10-2019
Economies.com
2019-10-11 10:21AM UTC
Crude oil price trades with clear positivity affected by the attack on the Iranian oil tanker this morning, to start attacking 54.60 level, which urges caution from the upcoming trading, as confirming breaching this level will stop the recently suggested negative scenario and lead the price to achieve additional gains that reach 56.00 followed by 57.42, while holding below 54.60 is required to continue the bearish trend scenario that its first target located at 51.80.
Therefore, we will keep our bearish overview for today conditioned by the the price stability below 54.60.
The expected trading range for today is between 51.80 support and 55.50 resistance.
The expected trend for today: Bearish
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