Honeywell suffers from negative pressures - Analysis - 21-10-2022

Western Digital's stock (WDC) rose in the last session amid negative pressure from the 50-day SMA, with the dominance of the main downward trend in the medium and short terms, coupled with negative signals from the RSI, in at attempt to regain past losses.

Brent oil price resumes its negative trading clearly to move below 92.00 barrier, reinforcing the expectations of continuing the bearish trend for the rest of the day, waiting for more decline to visit 90.00 followed by 86.30 levels that represent our main targets, reminding you that holding below 93.73 is important to achieve the suggested targets.

Crude oil price managed to break 84.60 level to return to the intraday bearish channel again, which supports the continuation of the expected bearish trend efficiently in the upcoming sessions, opening the way to achieve our negative targets that start at 82.30 and extend to 80.00, reminding you that the continuation of the bearish wave depends on the price stability below 86.60.