Midday update for Crude Oil 20-10-2016
Economies.com
2016-10-20 10:15AM UTC
Crude oil price shows negative trading now to move below 51.65 level, noticing that stochastic approaches from the oversold areas to form positive motive that we are waiting to push the price to step above the mentioned level, which represents an initial condition to continue the positive scenario suggested in our recent reports.
Therefore, we will keep our overall bullish overview supported by the EMA50, unless breaking 49.34 level and holding below it, reminding you that our next main target is located at 53.92.
Expected trading range for today is between 50.00 support and 53.92 resistance.
Expected trend for today: Bullish
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