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Crude Oil






5/10/2017 12:59:07 AM

Crude Oil - Technical Analysis: Wednesday, 10/05/2017 04:59 GMT



Crude oil price started to test the important support 45.75, to complete drawing the double top pattern as appears on the chart below, waiting to break this level to confirm the continuation of the bearish trend on the short term basis, which will assist the price to head towards our waited target at 43.50.

Thus, the decline will remain dominant in the coming period, noting that surpassing 46.90 then 47.60 levels will push the price to turn its intraday and short term trades to the upside.


Target
Risk


Support
Resistance


Trend Bearish

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