Crude oil keeps rising – Analysis - 25-05-2017

Crude oil price opens today's trading with clear positivity to resume its main bullish track, organized inside the bullish channel that appears on chart, as the price gets good positive support by the EMA50, while stochastic provides positive overlapping signal now.

Therefore, we believe that the chances are valid to continue rising in the upcoming sessions, waiting to test 53.00 level as a first main station, noting that breaching this level will push the price towards 55.27, while holding above 49.85 represents key condition to continue the suggested bullish trend.

Expected trading range for today is between 50.50 support and 54.00 resistance.

Expected trend for today: Bullish