Commodities

Midday update for Crude oil 11-10-2018

2018-10-11 09:54:11 GMT (Economies.com)

Crude oil price fluctuates around 72.12 level since morning, and it returns to move below it now, which keeps the bearish trend scenario valid for today, which its next targets located at 70.66 and extend to 69.19 after breaking the previous level, noting that settling above 72.12 will stop the current negative pressure and push the price to achieve some intraday gains.

 

Expected trading range for today is between 70.00 support and 73.00 resistance.

 

Expected trend for today: Bearish

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