Crude keeps its positive stability – Analysis - 24-01-2017

Crude oil price bounced bullishly after leaning on the minor bullish channel's support that appears on chart, hinting the price head to resume the main bullish trend, which its first target located at 55.27.

Stochastic provides positive signals that the support the continuation of the bullish bias in the upcoming sessions, to keep the positive overview active on the intraday and short term basis conditioned by the price stability above 51.15 level, reminding you that breaching 55.27 will extend the bullish wave to reach 56.50 as a next main station.

Expected trading range for today is between 52.00 support and 55.27 resistance.

Expected trend for today: Bullish