Crude oil gets a positive signal – Analysis - 03-01-2018
Economies.com
2018-01-03 05:01AM UTC
Crude oil price shows sideways trades since yesterday to settle above 60.00 barrier, noticing that stochastic begins to provide positive overlapping signal on the four hours' time frame, which forms positive motive that we are waiting to assist to push the price to continue rising, which keeps the bullish trend scenario valid in the upcoming sessions, supported by the EMA50.
Our next target reaches 63.20, noting that breaking 59.50 will push the price to test the main bullish channel's support around 58.20 before any new attempt to rise.
Expected trading range for today is between 59.50 support and 63.00 resistance.
Expected trend for today: Bullish
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