Crude oil awaits the breach – Analysis - 28-01-2019
Economies.com
2019-01-28 05:09AM UTC
Crude oil price continues to fluctuate within sideways track and settles above the EMA50, waiting to breach the neckline of the inverted head and shoulders’ pattern at 54.40 to activate the positive effect of this pattern followed by resuming the main bullish trend that its next targets located at 57.46 followed by 60.00.
Therefore, we will continue to suggest the bullish trend for the upcoming period unless breaking 51.46 level and holding below it.
Expected trading range for today is between 52.50 support and 55.50 resistance.
Expected trend for today: Bullish
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