Midday update for Crude Oil 22-07-2016
Economies.com
2016-07-22 11:12AM UTC
Crude oil price shows more bearish bias to head gradually towards our waited target at 43.55, reminding you that breaking this level will extend the negative trading to target 41.87 level that represents 38.2% Fibonacci correction for the rise measured from 26.04 to 51.65.
The EMA50 keeps pushing on the price to support continuing the expected bearish bias, which will remain valid for today unless the price managed to beach 45.61 level and hold above it.
Expected trading range for today is between 43.00 support and 47.00 resistance.
Expected trend for today: Bearish
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