Midday update for Crude oil 26-11-2020
Economies.com
2020-11-26 10:07AM UTC
Crude oil price faces strong negative pressure to attack 45.05 and attempts to hold below it, which hints the price head to decline for the rest of the day, on its way to test 43.05 before turning back to resume the bullish trend.
Therefore, the bearish bias will be suggested temporarily in the upcoming sessions, taking into consideration that breaching 46.05 will stop the current negative pressure and lead the price to regain the bullish track again.
The expected trading range for today is between 44.00 support and 46.50 resistance.
The expected trend for today: Bearish for the rest of the day
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