Midday update for Crude oil 16-08-2018
Economies.com
2018-08-16 09:30AM UTC
Crude oil price fluctuates around 65.00 level since morning, and the price still within the bearish channel that organizes the current bearish wave, to continue suggesting the bearish trend for today as long as the price is below 66.90, noting that stochastic positivity might cause more sideways fluctuation until we get enough negative momentum to push the price to head towards our next target at 63.60, reminding you that breaking this level will extend oil price losses to reach 61.60.
Expected trading range for today is between 63.00 support and 66.00 resistance.
Expected trend for today: Bearish
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