Commodities

Crude oil price crawls towards the target – Analysis - 14-01-2020

2020-01-14 05:36:09 GMT (Economies.com)

Crude oil price resumed its negative trading clearly yesterday to approach our waited target at 57.40, facing negative pressure coming by the EMA50, which supports the chances of surpassing the mentioned level and open the way to extend the bearish wave towards negative targets that reach 54.60.

 

Therefore, the bearish trend will remain suggested for the upcoming period unless breaching 60.90 level and holding above it.

 

The expected trading range for today is between 56.50 support and 59.30 resistance.

 

The expected trend for today: Bearish

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