Commodities

Midday update for Crude oil 08-11-2019

2019-11-08 10:38:33 GMT (Economies.com)

Crude oil price traded with clear negativity to start pressing on the EMA50, reinforcing the expectations of continuing the bearish trend for the rest of the day, as the price approaches our first waited target at 56.00, waiting for more decline to visit 54.60 level as a next main station, reminding you that the continuation of the expected decline conditions holding below 57.40.

 

The expected trading range for today is between 54.60 support and 58.00 resistance.

 

The expected trend for today: Bearish

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