Crude oil still sideways – Analysis - 20-03-2018

Crude oil price continues to move between the sideways range lines that appears on the above chart, which its lines represented by 60.14 support and 62.65 resistance, to keep the sideways move scenario valid on the intraday basis until the price manages to breach one of these levels and detect the next track clearly.

We remind you that breaching the resistance will push the price to achieve gains that start at 64.20 and extend to 66.70, while breaking the support will push the price to suffer losses on the short term basis, its targets begin at 58.60 and might extend to 56.09 after breaking the previous level.

Expected trading range for today is between 60.14 support and 64.00 resistance.

Expected trend for today: Sideways