Crude oil price shows calm positive trading since morning in attempt to move away gradually from the EMA50, to keep the bullish trend valid and active on the intraday and short term basis, and the way is open for testing 55.27 level that represents our first main target, and breaching it represents the extension key for the bullish wave to 56.50.
Therefore, we wait for more of the positive trading for the rest of the day conditioned by holding above 53.55.
Expected trading range for today is between 53.00 support and 56.50 resistance.
Expected trend for today: Bullish