Midday update for Crude oil 12-10-2018
Economies.com
2018-10-12 10:14AM UTC
Crude oil price trades with clear positivity since morning to start testing the key resistance 72.12, and as we mentioned in our morning report, holding below this level is required to continue the correctional bearish scenario, which its targets begin by breaking 70.66 to confirm extending the bearish wave towards 69.19, noting that breaching 72.12 followed by 73.07 will stop the suggested decline and lead the price to regain the main bullish trend again.
Expected trading range for today is between 69.19 support and 72.50 resistance.
Expected trend for today: Bearish
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