Midday update for Crude oil 29-10-2020
Economies.com
2020-10-29 09:44AM UTC
Crude oil price shows new strong negative trades to approach our waited target at 36.10, and we expect breaking this level and open the way to extend the bearish wave on the short term basis, to reach the next target to 34.30.
Therefore, the bearish trend will remain dominant in the upcoming trading, supported by the negative pressure formed by the EMA50, noting that holding below 39.35 is important to achieve these targets.
The expected trading range for today is between 35.50 support and 38.50 resistance.
The expected trend for today: Bearish
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