Crude oil price resumed its positive trading to breach 50.00 barrier and settles above it, reinforcing the expectations of continuing the bullish trend on the intraday and short term basis, opening the way to head towards our next main target at 52.85.
Therefore, we are waiting for more rise for the rest of the day supported by the EMA50 and stochastic, noting that the continuation of the bullish trend depends on holding above 49.45 and 48.37 levels.
Expected trading range for today is between 48.37 support and 52.85 resistance.
Expected trend for today: Bullish