Midday update for Crude Oil 25/11/2015
Economies.com
2015-11-25 11:23AM UTC
Crude oil price trades negatively since morning to begin a process to break the mentioned support in our last report at 42.40, which supports the continuation of the bearish trend scenario efficiently in the upcoming period, which gets a good support from stochastic negativity.
Therefore, we wait for resuming the bearish wave that its next main target located at 37.73, while the expected decline will remain valid unless breaching 43.37 then 44.05 levels and holding above it.
Expected trading range for today is between 39.00 support and 44.05 resistance.
Expected trend for today: Bearish
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