Midday update for Crude oil 27-07-2017

Crude oil price keeps its stability above the support base formed above 48.37 level, to keep the bullish trend valid for the upcoming sessions, supported by the EMA50 that carries the price to continue rising inside the bullish channel that appears on chart.

Therefore, we will keep our bullish overview for the rest of the day unless we witnessed clear break to 48.37 followed by 47.30 levels and holding below them, reminding you that our next main targets begin at 50.00 and extend to 52.50.

Expected trading range for today is between 47.30 support and 51.00 resistance.

Expected trend for today: Bullish