Crude oil gets the positive momentum – Analysis - 18-07-2017

Crude oil price begins today's trading with bullish bias after approaching from the EMA50 yesterday, noticing that stochastic shows clear oversold signals now and begins to overlap positively on the four hours' time frame, which forms positive motive that we expect to push the price to provide more positive trading in the upcoming sessions.

Therefore, we will keep our bullish overview on the intraday and short term basis, reminding you that our next main target is located at 48.37, while achieving it conditions holding above 45.60 and the most important above 44.10.

Expected trading range for today is between 45.00 support and 48.37 resistance.

Expected trend for today: Bullish