Midday update for Crude oil 21-09-2020
Economies.com
2020-09-21 09:12AM UTC
Crude oil price’s traded with strong negativity to break 40.30 level and settles above it, to complete forming double top pattern that its signs appear on the chart, which puts the price under additional negative pressure that we expect to push trades towards 39.15 areas initially.
Therefore, the bearish bias will remain expected for the rest of the day unless the price managed to breach 40.30 level and hold above it.
The expected trading range for today is between 39.00 support and 41.50 resistance.
The expected trend for today: Bearish
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