Midday update for Crude oil 23-05-2018
Economies.com
2018-05-23 09:57AM UTC
Crude oil price crawls downwards gradually to approach the EMA50, noticing that stochastic touches the oversold areas, to support the chances of bouncing bullishly to resume the overall bullish trend, bein aware that pressing on 70.95 level will stop the expecte rise and push the price to start bearish correction on the short term basis.
Breaching 72.25 is required to confirm rallying towards our positive targets that begin at 74.65 followed bt 76.50.
Expected trading range for today is between 71.00 support and 73.50 resistance.
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