Midday update for Crude oil 12-12-2018

Economies.com
2018-12-12 10:37AM UTC

Crude oil price trades positively now to begin the breaching process to 52.50 level and attempts to return to the minor bullish channel, which urges caution from the upcoming trading, as holding above the mentioned level will turn the intraday track to rise and leads the price towards 57.46 level mainly.

 

Until now, the bearish trend scenario will remain valid unless the price confirmed breaching 52.50 level, waiting to head towards 49.10 that represents our next main target.

 

Expected trading range for today is between 50.00 support and 53.50 resistance.

 

Expected trend for today: Bearish

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