21.09.2015 CRUDE OIL TECHNICAL ANALYSIS LEVEL FOR NYMEX MCX CRUDEOIL

Crude oil price bounced bearishly after the positive attempt yesterday, to fluctuate near 40.00$ per barrel barrier, noticing that stochastic offers negative overlapping signal now, which supports the chances of resuming the bearish trend in the upcoming period, waiting to surpass the mentioned level to visit 39.00 barrier as a next main target.

 

Therefore, we will continue to suggest the bearish trend in the upcoming period supported by the EMA50, noting that it is important to hold below 42.00 level to continue the expected bearish bias.

 

Expected trading range for today is between 39.00 support and 42.50 resistance.

 

Expected trend for today: Bearish

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