Midday update for Crude Oil 30-06-2016
Economies.com
2016-06-30 11:07AM UTC
The tight range controls Crude oil price since morning, which settles above 49.00 barrier, while stochastic gets rid of its negativity and gaining the positive momentum gradually, to support the chances for resuming the main bullish trend, and its targets begin by testing the recently recorded top at 51.65.
The EMA50 provides positive support for the price, to keep preferring the bullish trend in the upcoming sessions, and its continuation conditioned by holding above 45.61 level, pointing that breaching 51.65 level will extend the gains to reach 56.50 levels.
Expected trading range for today is between 48.00 support and 52.00 resistance.
Expected trend for today: Bullish
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