Credit: Shutterstock photoMorning Report for Crude Oil Futures Crude oil breached the sensitive support areas around 95.00 which completed the formation of a bearish pattern that signals further intraday bearishness for today. We might see the retest of the breached support due to the positivity on Stochastic before moving towards targets at 92.80 then 91.50. Breaching areas of 95.00 will negate the bearish expected scenario. The trading range for today is among the major support at 90.00 and the major resistance at 97.50. The short-term trend is to the downside with steady daily closing below 105.00 targeting 65.00. Previous Report Weekly Report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.