Crude oil price gets a negative signal – Analysis - 22-01-2020
Economies.com
2020-01-22 05:48AM UTC
Crude oil price shows calm negative trades now on its way to visit 57.40 level that represents our first negative target, noting that the EMA50 keeps pressing negatively on the price, while stochastic begins to overlap negatively now.
Therefore, we believe that the chances valid to continue the decline and break the above mentioned level to extend the bearish wave towards 54.60 as a next station, reminding you that breaching 59.20 will lead the price to test the most important resistance to the short term trades at 60.90 before any new attempt to decline.
The expected trading range for today is between 56.50 support and 59.50 resistance.
The expected trend for today: Bearish
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