Crude oil retests – Analysis - 20-04-2018
Economies.com
2018-04-20 03:54AM UTC
Crude oil price retested the previously breached resistance of the bullish channel that appears on the chart, accompanied by stochastic reach to the oversold areas, which supports the chances of bouncing bullishly to resume the main bullish trend, reinforced by the EMA50 that carries the price from below.
Therefore, we will keep our positive overview for today conditioned by the price stability above 68.15, noting that we are waiting to visit 70.00 level as a next main station.
Expected trading range for today is between 67.00 support and 70.50 resistance.
Expected trend for today: Bullish
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