CORRECT. Russian deputy FinMin sees oil price around $40-$60/barrel for next 7 years

Crude oil price shows more bearish bias to settle below 37.00$ per barrel barrier, reinforcing the expectations of continuing the bearish trend in the upcoming period, which is organized inside the bearish channel that appears on chart, while the EMA50 continues to push negatively on the intraday and short term trading.


Therefore, we believe that the chances are valid to head towards testing the historical low 35.13 as a next main station, reminding you that breaching 39.00 level might push the price to achieve some gains that reach to 44.00 before any new attempt to decline.


Expected trading range for today is between 34.50 support and 38.00 resistance.


Expected trend for today: Bearish

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