Midday update for Crude oil 22-01-2020
Economies.com
2020-01-22 11:16AM UTC
Crude oil price continues to crawl negatively to gradually approach our waited target at 57.40, to keep the bearish trend scenario valid for the the rest of the day, supported by stochastic and the EMA50 negativity, and we still believe that the way is open to break the mentioned level and open the way to head towards 54.60 as a next target, reminding you that the continuation of the expected decline requires holding below 59.20.
The expected trading range for today is between 56.50 support and 59.50 resistance.
The expected trend for today: Bearish
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