Crude oil confirms completing the positive pattern – Analysis - 28-06-2017

Crude oil price confirmed completing the inverted head and shoulders' pattern after closing the daily candlestick above the breached neckline, and the price retested this level that forms key support now at 43.60 and kept its stability above it, which supports the continuation of the bullish trend scenario efficiently in the upcoming period, as the price attempts to breach 44.10 level now.

Therefore, we are waiting for more rise in the upcoming sessions, noting that our next target is located at 45.00, while the bullish trend will remain valid unless breaking 44.10 followed by 43.60 levels and holding below them.

Expected trading range for today is between 43.00 support and 46.00 resistance.

Expected trend for today: Bullish