Crude Oil struggles to get rid of the negative pressures – Technical Analysis – 20-11-2015

Crude oil price didn’t show strong moves yesterday, to remain stable under the moving average 50, attempting to breach the descending channel’s resistance that carried the short term trading, besides positive signals by stochastic that assist the price, along with the stability above 41.60 key support.

Therefore, we expect rising in the coming period conditioned by holding above 41.60 support, targeting 43.60 resistance line.