Crudeoil : Technical View : 04.12.2019
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On the daily chart, the price gained 0.40% in
the last session.
However, 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.
However, 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.