Crude oil price resumes the decline – Analysis - 21-01-2020
Economies.com
2020-01-21 05:39AM UTC
Crude oil price bounced bearishly after the EMA50 formed solid resistance barrier against the price, to keep the bearish trend scenario valid and active for the upcoming period, waiting to test 57.40 level initially, reminding you that breaking this level will extend the bearish wave to reach 54.60.
Therefore, we will continue to suggest the bearish trend for the upcoming period, reminding you that breaching 59.20 will push the price to test the most important resistance for 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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