SELL CRUDE OIL RISE @ GOOD LEVEL TO SELL NEAR 2783-90, INVENTORY TIME IT WILL GO UP TILL 2816-36

Crude oil price showed positive trading yesterday evening to test the bearish channel’s resistance that appears on chart, which represents the first protecting factor for our overall bearish overview, as the price is affected by stochastic positivity that appears on the four hours’ time frame.

 

On the other hand, the EMA50 continues to push negatively on the intraday and short term trading, which keeps the negative scenario valid until now, reminding you with the condition of holding below 44.00 level to continue the expected decline, noting that our next main target is located at 40.00 then 39.00.

 

Expected trading range for today is between 39.00 support and 44.00 resistance.

 

Expected trend for today: Bearish

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