Crude oil awaits the rise – Analysis - 17-11-2017

Crude oil price continues to fluctuate near the bullish channel's support that appears on chart and keeps its stability above it, which keeps the bullish trend scenario active until now, and stochastic begins to provide positive overlapping signals that we are waiting to assist to push the price to resume the bullish trend in the upcoming sessions.

Therefore, we will continue to suggest the bullish trend on the intraday and short term basis, conditioned by the price stability above 55.05, noting that our expected targets begin at 57.90 and extend to 60.25.

Expected trading range for today is between 54.15 support and 57.90 resistance.

Expected trend for today: Overall Bullish