Midday update for Crude oil 21-09-2017

Economies.com
2017-09-21 10:09AM UTC

Crude oil price shows some slight bearish bias affected by stochastic negativity, noticing that the index is approaching from the oversold areas now, which forms positive factor that we are waiting to support the continuation of the overall bullish trend.

 

Therefore, we will keep our bullish overview for today as long as the price remains stable above 49.45, supported by the EMA50 that keeps carrying the price from below, reminding you that our next main target is located at the bullish channel's resistance at 53.10.

 

Expected trading range for today is between 49.00 support and 53.10 resistance.

 

Expected trend for today: Bullish

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