Commodities

Midday update for Crude oil 19-08-2019

2019-08-19 09:25:16 GMT (Economies.com)

Crude oil price tests 55.65 level and bounces lower to move near 55.00 again, keeping the bearish trend scenario valid for today, depending on the stability below 55.95 level, where the price organizes within the bearish channel that appears in the image, waiting for surpassing 54.47 level, to reinforce the chances for heading to our next main target that reaches 51.61.

 

The expected trading range for today is between 53.50 support and 56.50 resistance.

 

The expected trend for today: Bearish

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