Crude oil awaits more rising – Analysis - 22-09-2017

Crude oil price settles around 50.50 level, getting continuous positive support by the EMA50 that carries the price from below, reinforcing the chances of continuing the main bullish trend, organized inside the bullish channel that appears on chart.

Therefore, our bullish overview will remain valid as it is without any change, waiting to head towards 53.15 that represents our next main target, noting that breaking 49.45 will push the price to test areas that start at 48.37 and might extend to 46.75 before any new attempt to rise.

Expected trading range for today is between 49.00 support and 53.15 resistance.

Expected trend for today: Bullish