Crude Oil ends the rising chances – Technical Analysis – 18-11-2015

Crude oil price decline on the intraday basis after the stability below 42.05 key resistance, dominated by the main short term bearish trend, pushed negatively by the moving average 50, to cancel the rising chances that conditioned breaching 42.05 resistance, along with negative signals coming from stochastic.

Thus, we expect more decline for crude oil in the coming trading as long as the price is below 42.05, targeting 39.40 support level.