Midday update for Crude Oil 03-10-2016
Economies.com
2016-10-03 10:09AM UTC
Crude oil price trades with clear positivity since morning to approach from our main waited target at 49.34, waiting to surpass this level to confirm extending oil price gains to reach 51.65 as a next main station.
Therefore, we will continue to suggest the bullish trend in the upcoming sessions conditioned by the price stability above 46.96 level, noting that the EMA50 provides good positive support to the suggested bullish wave.
Expected trading range for today is between 46.30 support and 50.00 resistance.
Expected trend for today: Bullish
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