Midday update for Crude oil 23-09-2020
Economies.com
2020-09-23 09:13AM UTC
Crude oil price trades with clear positivity to attack 39.70 again, noticing that the EMA50 continues to press negatively on the price to protect the recently suggested negative scenario, while stochastic reaches the overbought areas.
Therefore, these factors support the chances of resuming the expected bearish trend for today, which targets 38.60 followed by 37.90 levels mainly, while achieving them requires holding below 40.36.
The expected trading range for today is between 38.00 support and 40.50 resistance.
The expected trend for today: Bearish
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