Crude oil price tested the intraday bullish channel’s support line that appears on the chart, getting continuous positive support by the EMA50, noticing that stochastic gets rid of its negative momentum clearly to reach the oversold areas.
Therefore, these factors encourage us to continue suggesting the bullish trend in the upcoming sessions, conditioned by the price stability above 70.55, noting that our main waited target is located at 75.40.
Expected trading range for today is between 70.55 support and 73.55 resistance.
Expected trend for today: Bullish