Crude oil price resumes its positive trading moving away from the previously breached symmetrical triangle’s resistance, which supports the continuation of the bullish trend scenario efficiently in the upcoming period, and the way is open for testing 55.27 level, and breaching it represents the key to rally towards 56.50 as a next main target.
Therefore, we will keep preferring the bullish trend on the intraday and short term basis unless breaking 53.80 and the most important 52.25 and holding below it.
Expected trading range for today is between 53.00 support and 56.50 resistance.
Expected trend for today: Bullish