Midday update for Crude oil 16-05-2018
Economies.com
2018-05-16 09:28AM UTC
Crude oil price retests the previously breached resistance of the bearish channel, and the price gets continuous positive support by the EMA50, to keep the chances valid to continue the main bullish trend, which targets visiting 75.00 level on the near term basis.
Therefore, we will keep our positive overview for today unless breaking 69.55 level and holding below it.
Expected trading range for today is between 69.55 support and 73.00 resistance.
Expected trend for today: Bullish
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