Midday update for Crude Oil 20-01-2017
Economies.com
2017-01-20 11:38AM UTC
Crude oil price trades with slight positivity now in attempt to move away from the minor bullish channel’s support that appears in the image, providing signals for heading towards resuming the main bullish trend, opening the way towards heading to our positive targets that begin at 55.27 and extend to 56.50.
Therefore, we will keep our bullish trend expectations valid in the upcoming period supported by stochastic, unless witnessing clear break and stability below 51.00 level.
Expected trading range for today is between 51.00 support and 55.27 resistance.
Expected trend for today: Bullish
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