Midday update for Crude Oil 09-12-2016
Economies.com
2016-12-09 11:04AM UTC
Crude oil price continues its positive trading to approach from the key resistance line 51.65, and as we mentioned this morning, breaching this level will reinforce the expectations of continuing the bullish trend on the short term basis followed by opening the way to visit 53.92 level direct.
Therefore, we will continue to suggest the bullish trend for today supported by the EMA50, unless breaking 49.35 level and holding with a daily below it.
Expected trading range for today is between 49.35 support and 53.92 resistance.
Expected trend for today: Bullish
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