Midday update for Crude oil 28-05-2020

2020-05-28 10:52:05 GMT (Economies.com)
 

Crude oil price rose temporarily but the EMA50 forms negative pressure against the price to protect the expected bearish trend for the upcoming period, which targets 28.80 mainly, noting that stochastic provides negative signals that support the chances of the decline for the rest of the day.

 

Therefore, we will keep our bearish overview conditioned by the price stability below 32.50 as a first protection factor, reminding you that breaking 30.67 will complete forming double top pattern that supports the expectations to decline.

 

The expected trading range for today is between 28.80 support and 33.00 resistance.

The expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.1753
0.0043
0.3693%
1.3065
0.0050
0.3853%
Tadawul
7459.21
4.14
0.06%
24.261
0.014
0.058%
41.185
0.750
1.855%
44.29
0.78
1.79%
1972.200
2.845
0.144%
 
 
Live Forex Updates