Crude oil is stable – Analysis - 20-09-2017

Crude oil price settles above 50.00$ barrier after testing the first key support 49.45 yesterday, getting continuous positive support by the EMA50, reinforcing the chances of continuing the bullish trend on the intraday and short term basis, which moves organized inside the bullish channel that appears on chart.

Therefore, we will continue to suggest the bullish trend in the upcoming sessions, noting that our next main target is located at 53.00, while holding above 49.45 and 48.37 levels represents key condition to achieve it.

Expected trading range for today is between 49.00 support and 53.00 resistance.

Expected trend for today: Bullish