Crude Oil gets a positive signal – Analysis - 22/10/2014
Economies.com
2014-10-22 05:25AM UTC
Crude oil price remains stable above the bearish channel’s support, and it finds an intraday resistance formed by the EMA50 now at 83.25.
Stochastic provides positive signal now that we wait for it to motivate oil price to breach the EMA50 then pushing the price to rise, which makes us keep preferring the bullish trend in the upcoming period, and holding above 81.60 level is conditioned for its continuation.
Expected trading range for today is between 81.00 support and 85.00 resistance.
Expected trend for today: Bullish
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