Midday update for Crude Oil 22-05-2017
Economies.com
2017-05-22 10:16AM UTC
Crude oil price keeps rising organized within the bullish channel that appears in the image, to move above 51.00 level now, getting continuous positive support from the EMA50, reinforcing the expectations of achieving more of the gains in the upcoming period.
Therefore, we will keep the bullish trend scenario valid for today unless breaking 49.60 level and holding below it, reminding you that our main waited targets begin at 52.20 and extend to go further towards 55.27.
Expected trading range for today is between 49.00 support and 53.50 resistance.
Expected trend for today: Bullish
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