Midday update for Crude oil 24-01-2018

Crude oil price did not show any strong move since morning, to continue fluctuating near the previously recorded top at 64.88, while stochastic gets rid of its negative momentum gradually to head towards the oversold areas.

In general, the bullish trend will remain valid and active in the upcoming sessions unless breaking 63.55 level and holding below it, noting that the EMA50 continues to support the bullish wave that its targets extend to reach 65.45 followed by 66.15 levels after surpassing the above mentioned top.

Expected trading range for today is between 63.50 support and 66.15 resistance.

Expected trend for today: Bullish