Commodities

Midday update for Crude oil 19-07-2019

2019-07-19 10:43:18 GMT (Economies.com)

Crude oil price keeps its stability below the bearish channel’s resistance that appears on the chart, to continue suggesting the bearish trend in the upcoming sessions, which targets testing 54.47 level initially, noticing that stochastic loses its positive momentum gradually to support the expectations of achieving more decline.

 

Holding below 56.40 represents the first condition to continue the suggested negative scenario, reminding you that surpassing the first target will push the price towards 53.00 as a next main station.

 

The expected trading range for today is between 54.47 support and 57.33 resistance.

 

The expected trend for today: Bearish

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