Midday update for Crude oil 15-05-2019
Economies.com
2019-05-15 09:26AM UTC
Crude oil price makes new test to the key support 60.86, and it needs to break this level to confirm rallying towards our next correctional target at 57.33, noting that the EMA50 and stochastic provide negative signals that support the chances of continuing the decline in the upcoming sessions.
Therefore, our bearish overview will remain valid for today conditioned by the price stability below 62.20.
The expected trading range for today is between 59.00 support and 62.20 resistance.
The expected trend for today: Bearish
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