Crude oil price faces negative pressure – Analysis - 12-12-2019
Economies.com
2019-12-12 05:46AM UTC
Crude oil price returns to recover after the decline that it witnessed yesterday, as the EMA50 managed to protect the price from suffering more losses, to keep the main bullish trend valid on the intraday and short term basis, organized ni the bullish channel that appears on the chart, waiting to resume the bullish bias that its next target located at 60.90.
On the other hand, we should note that breaking 57.40 will stop the expected rise and press on the price to return to the correctional bearish track that its next target located at 54.60.
The expected trading range for today is between 58.00 support and 60.90 resistance.
The expected trend for today: Bullish
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