Crude oil gathers the positive momentum – Analysis - 24-10-2017
Economies.com
2017-10-24 03:37AM UTC
Crude oil price continues to fluctuate around 52.00 level, noticing that stochastic got rid of its negativity to reach the oversold areas, reinforcing the chances of resuming the bullish trend in the upcoming period, which its targets begin by testing the previously recorded top at 52.84, reminding you that breaching this level will push the price towards 55.27 as a next main target.
Therefore, our bullish overview will remain valid for today, supported by the EMA50, noting that holding above 51.12 represents key condition to achieve the suggested targets.
Expected trading range for today is between 51.00 support and 54.00 resistance.
Expected trend for today: Bullish
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