Midday update for Crude oil 16-10-2020
Economies.com
2020-10-16 10:17AM UTC
Crude oil price shows some slight bearish bias to head towards potential test to 40.00 level, and as long as the price is above this level, our bullish overview will remain valid for today, supported by the EMA50, reminding you that we are waiting to breach 41.30 to reinforce the chances of rallying towards 43.05 that represents our next main target.
The expected trading range for today is between 39.40 support and 42.50 resistance.
The expected trend for today: Bullish
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