Midday update for Crude Oil 30/11/2015
Economies.com
2015-11-30 11:30AM UTC
Crude oil price is testing the EMA50 now, which forms intraday resistance at 42.40, while stochastic heads upwards towards the overbought areas, which forms negative factor that we are waiting to push the price to bounce bearishly in the upcoming period.
In general, we will continue to suggest the bearish trend conditioned by holding below 43.37, noting that our next main target is located at 37.73.
Expected trading range for today is between 39.00 support and 43.37 resistance.
Expected trend for today: Bearish
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