Midday update for Crude oil 16-05-2022
Economies.com
2022-05-16 09:42AM UTC
Crude oil price trades positively now, to head towards potential test to the key resistance 109.15, and as long as the price is below this level, the bearish trend scenario will remain valid for today, which its main target located at 104.60, noting that stochastic provides negative signals that support the expectations to decline.
The expected trading range for today is between 103.50 support and 109.15 resistance.
The expected trend for today: Bearish
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