Midday update for Crude oil 23-10-2019
Economies.com
2019-10-23 09:20AM UTC
Crude oil price resumes its negative trading to move away from 54.60 level, which supports the continuation of our bearish trend expectations efficiently for the rest of the day, reinforced by the negative signal that comes from stochastic, and the price needs to surpass the EMA50 to ease the mission of heading to 51.80 that represents our initial main target, while holding below 54.60 represents an important condition for the continuation of the expected decline.
The expected trading range for today is between 51.80 support and 55.00 resistance.
The expected trend for today: Bearish
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