Crude oil price dropped below $48.50 area quite impulsively with a daily close and may continue further towards the $45 area in the upcoming days.
Oil broke support at $50 with a Daily close which may support further down move. Oil is currently residing near $50, may continue lower if $49.35 is broken
Crude oil price continues the bearish trend and may reach $50 per barrel in the upcoming days. The price recently closed below $51.50 area..
Oil started with gap pushed towards $51.50 again after Monday opened. Oil may Push more lower after filling the gap and with the rejection from 20 EMA
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Oil Struggling Pushing Higher above $51.50 Resistance Area may break higher as the pressure continues. Oil may reach $53, if break is successful.
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Oil may Continue Bearish Trend Breaking $50.50 Support area and head towards $50 or lower. As the price remains below $51.50, Bearish Bias may continue.
Oil Pushed Higher Breaking $51.50 Resistance for a Reversal or Retracement. Despite having strong Bearish trend, the price countered impulsively.