Midday update for Crude oil 21-05-2018
Economies.com
2018-05-21 10:06AM UTC
Crude oil price shows some slight bearish bias now affected by the overbought signals that appear through stochastic, and as long as the price is above 70.30, the bullish trend scenario will remain valid in the upcoming period, as breaking it will push the price to start bearish correction on the short term basis.
Note that breaching 72.25 will ease the mission of heading towards our waited targets that begin at 74.65 and extend to 76.00.
Expected trading range for today is between 70.30 support and 73.55 resistance.
Expected trend for today: Bullish
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