Midday update for Crude Oil 20-02-2017

Crude oil price begins a breaching process to the critical resistance at 53.85 and attempts to build support base above it, which supports the continuation of the bullish trend scenario efficiently in the upcoming period, easing the way towards visiting 55.27 level initially, reminding you that breaching this level will extend crude oil gains to reach 56.50 as a next main station.

The EMA50 supports the expected rise, and its continuation conditioned by holding above 52.15 level.

Expected trading range for today is between 52.15 support and 56.00 resistance.

Expected trend for today: Bullish