Crude Oil amid negative outlooks – Technical Analysis – 10-11-2015

Crude oil price showed mixed trading on the intraday basis, moving inside a short term descending channel, pushed by the moving average 50, accompanied by stochastic forming a negative divergence that appears on chart, all these signals might force oil price to decline in the coming trading.

Therefore, we expect Crude oil price to decline in the next period to target 43.10 support, as long as the price is inside the mentioned descending channel.