Crude oil approaches from the first target – Analysis - 13-09-2017

Crude oil price settles near 48.50 level, waiting to breach this level to confirm extending the bullish wave towards 50.00 that represents our next main target, noting that the EMA50 provides continuous positive support to the price, to reinforce the chances of achieving the waited targets.

In general, we will keep our bullish overview conditioned by holding above 47.50, noting that the price is organized inside short term bullish channel, hinting that the price has positive targets that extend to reach 52.70, while the price might be forced to show temporary sideways fluctuation until managing to gain enough positive momentum to push trading to achieve the suggested targets.

Expected trading range for today is between 47.00 support and 50.20 resistance.

Expected trend for today: Bullish