Midday update for Crude oil 27-06-2019
Economies.com
2019-06-27 11:13AM UTC
Crude oil price broke 59.00 level and settles below it, to face key horizontal support line at 58.65, as breaking this level will confirm the continuation of the decline on the intraday basis to head towards 57.33 mainly, while the price needs to surpass 59.40 to regain the main bullish trend that its next target located at 60.86.
Therefore, we prefer staying aside temporarily until the price confirms breaking 58.65 support or breaching 59.40 resistance to detect its next destination clearly.
The expected trading range for today is between 58.00 support and 60.86 resistance.
The expected trend for today: Depends on the above mentioned levels
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