Target: 45.00
Risk: 53.20
Technical reasons:
Crude oil price declined again to test 50.25 level, with signals to continue the bearish trend to break this level and head to 45.00 then 42.00.
The exponential moving average 50 supports the expected decline, and consolidating below 53.20 is important to continue the bearish trend.
Risk: 53.20
Technical reasons:
Crude oil price declined again to test 50.25 level, with signals to continue the bearish trend to break this level and head to 45.00 then 42.00.
The exponential moving average 50 supports the expected decline, and consolidating below 53.20 is important to continue the bearish trend.