Crude oil price hovers around the minor bullish channel, while stochastic shows clear positive signals on the four hours time frame, which represents positive motive that we expect to push the price to resume the main bullish trend in the upcoming sessions, which gets continuous support from the EMA50.
Therefore, these factors encourage us to keep our bullish trend expectations on the intraday and short term basis, that its next targets located at 51.10 then 53.30, while achieving them conditioned by holding above 48.40 and 47.25 levels.
Expected trading range for today is between 47.80 support and 52.00 resistance.
Expected trend for today: Bullish