The tight range dominates Crude oil price trading since morning, which moves below the psychological barrier 50.00, waiting to surpass this level to ease the mission of continuing the main bullish trend that moves organized inside the price channels that appears on image, getting continuous support by the EMA50.
On the other hand, the positive effect of the bullish pennant flag still valid, which encourage us to continue suggesting the bullish trend in the upcoming sessions, reminding you with our main targets that begin at 51.10 and extend to 53.30, which achieving them conditions holding above 48.40 and 47.25 levels.
Expected trading range for today is between 48.00 support and 52.00 resistance.
Expected trend for today: Bullish