Midday update for Crude Oil 30/07/2015
Economies.com
2015-07-30 10:28AM UTC
Crude oil price achieved an initial breach to 49.05 level and closed the four hours candlestick above it, which opens the way towards the continuation of the bullish bias for the rest of the day, to target 51.10 level mainly.
Therefore, the upside track will be preferred for today if the price settled above 48.40 level, where breaking this level will put the price under the negative pressure again, to target 44.00 level on the near basis.
Expected trading range for today is between 46.00 support and 51.10 resistance.
Expected trend for today: Bullish for the rest of the day
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