Midday update for Crude oil 16-01-2020
Economies.com
2020-01-16 10:07AM UTC
Crude oil price didn’t show any strong move since morning, to keep fluctuating near 58.00 barrier, as long as the price is below 59.50, so the decline will remain preferred for today, targeting breaking 57.40 level to confirm the extension of the bearish wave to 54.60, taking into consideration that breaching 59.50 will push the price to test the most important resistance at 60.90 before any new attempt to decline.
The expected trading range for today is between 56.50 support and 59.30 resistance.
The expected trend for today: Bearish
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