Midday update for Crude Oil 25-05-2017
Economies.com
2017-05-25 10:52AM UTC
Crude oil price tested the bullish channel's support and kept its stability above it, as the EMA50 formed good protection to the recently suggested positive scenario, waiting to resume the bullish trend that its first target located at 53.00.
Therefore, we will continue to suggest the bullish trend in the upcoming sessions conditioned by holding above 49.85, as breaking this level will push the price to test the most important support to the short term trading at 48.37 before any new attempt to rise.
Expected trading range for today is between 50.50 support and 54.00 resistance.
Expected trend for today: Bullish
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