Midday update for Crude oil 20-12-2018

Economies.com
2018-12-20 10:53AM UTC

Crude oil price managed to break the bearish flag’s support line and settles below it now, to activate the negative effect of this pattern, which supports the continuation of our bearish overview efficiently for the rest of the day, which its next target located at 45.46, noting that breaking this level is considered as the key to rally towards 40.00$ barrier on the near term basis, while holding below 48.34 represents key condition to achieve the suggested targets.

 

Expected trading range for today is between 45.00 support and 48.34 resistance.

 

Expected trend for today: Bearish

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