Midday update for Crude oil 07-12-2018
Economies.com
2018-12-07 10:39AM UTC
Crude oil price tests 51.46 level now, as it is affected by stochastic positivity, and we still waiting to confirm breaking the minor bullish channel’s support line to rally towards our negative targets that begin at 49.10 and extend to 46.00 after breaking the previous level.
In general, the bearish trend scenario will remain valid for today unless breaching 52.50 level and holding above it.
Expected trading range for today is between 49.00 support and 52.50 resistance.
Expected trend for today: Bearish
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