Crudeoil : Technical View : 20.11.2019
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On the daily chart, the price closed with
negative note and drifted 2.08% in the last
session.
Moreover, the price pushed back from the upper Bollinger Band, which adds pressure in the counter.
Furthermore, the price has also faced the resistance of the Falling Trendline, which confirms power to the bears.
In addition, momentum indicator RSI (14) has shown negative crossover.
As per the above technical structure; we expect bearish move in the counter
.
Moreover, the price pushed back from the upper Bollinger Band, which adds pressure in the counter.
Furthermore, the price has also faced the resistance of the Falling Trendline, which confirms power to the bears.
In addition, momentum indicator RSI (14) has shown negative crossover.
As per the above technical structure; we expect bearish move in the counter
.