Sunday, December 1, 2019

Crudeoil : Technical View : 02.12.2019

Crudeoil : Technical View : 02.12.2019

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On the daily chart, the price drifted 5.00% in the last session.

Moreover, the price has shifted below the Parabolic SAR, which indicates bearish trend may remain continue.

Furthermore, the price has also shifted below the 200 SMA which suggest falling prices.

In addition, momentum indicator RSI (14) has sustained below it’s 50 level which is negative for Crude Oil.

As per the above technical structure; we expect bearish move in the counter