Crude oil attempts to confirm the breach – Analysis - 23-11-2017

Crude oil price succeeded to achieve our first waited target at 57.90 and closed the daily candlestick above it, reinforcing the expectations of achieving more of the gains on the intraday and short term basis, where the price moves within bullish channel that has targets extend to reach 61.00.

Therefore, we will keep preferring the bullish trend in the upcoming sessions supported by the EMA50 that keep carrying the price from below, taking into consideration that the continuation otf the bullish trend depends on the stability above 56.60 and the most important above 55.90.

Expected trading range for today is between 56.60 support and 60.00 resistance.

Expected trend for today: Bullish