Crude oil price attacks the recorded low – Analysis - 17-08-2022
Economies.com
2022-08-17 04:20AM UTC
Crude oil price presses negatively on 86.36 level and attempts to confirm breaking it, reinforcing the expectations of continuing the bearish trend, paving the way to achieve more negative targets that start at 85.00 and extend to 84.00.
Therefore, the bearish trend scenario will remain active for the upcoming period, supported by the negative pressure formed by the EMA50, taking into consideration that holding below 87.70 represents initial condition to continue the expected decline.
The expected trading range for today is between 84.50 support and 88.20 resistance.
The expected trend for today: Bearish
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