Midday update for Crude oil 12-09-2017
Economies.com
2017-09-12 09:25AM UTC
Crude oil price shows some slight bearish bias on its way to test 48.50 level again, and the price needs to hold above this level to keep the bullish trend scenario active for the upcoming period, as breaking it will push the price to test 47.05 areas and might extend to 46.48 before any new attempt to rise.
In general, we will keep our positive overview for today conditioned by holding above 47.50, reminding you that our main waited targets begin at 48.53 and extend to reach 50.00.
Expected trading range for today is between 47.00 support and 50.00 resistance.
Expected trend for today: Bullish
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