Midday update for Crude oil 21-01-2020
Economies.com
2020-01-21 10:44AM UTC
Crude oil price continues to decline to reach the thresholds f the first waited target at 57.40, to keep our bearish overview for the upcoming sessions, noting that the EMA50 presses negatively on the price to support the chances of breaking the mentioned level and open the way to head towards 54.60 as a next main target.
Therefore, the bearish trend will remain dominant for today, noting that holding below 59.20 represents the first condition to continue the suggested decline.
The expected trading range for today is between 56.50 support and 59.50 resistance.
The expected trend for today: Bearish
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