Midday update for Crude oil 20-07-2017
Economies.com
2017-07-20 09:54AM UTC
Crude oil price fluctuates around 47.30 level since morning without managing to breach it until now, and as we mentioned in our last report, breaching this level will complete forming the double bottom pattern that appears on chart followed by pushing the price to extend its gains on the short term basis followe by surpassing 48.37 barrier to target 50.00 and 52.50 levels.
The EMA50 keeps supporting the suggested bullish wave, which its continuation conditions holding above 46.05 level.
Expected trading range for today is between 46.05 support and 49.50 resistance.
Expected trend for today: Bullish
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