Crude oil breaches the resistance – Analysis - 26-06-2017

Crude oil price begins this week trading positively to breach the bearish trend line that appears on chart and attempts to hold above it, which hints the price head to achieve some gains in the upcoming sessions, waiting to test 44.10 level initially.

Therefore, we expect witnessing more rise today, noting that breaching 44.10 will extend oil price gains to reach 48.37 as a next main station, while breaking 43.10 represents negative factor that will push the price to decline again, to start the negative targets at 42.10 and extend to 40.66.

Expected trading range for today is between 42.10 support and 45.00 resistance.

Expected trend for today: Bullish