Crude oil begins positively – Analysis - 30-05-2017

Economies.com
2017-05-30 02:14AM UTC

Crude oil price opens today's trading with calm positivity to move above the EMA50, reinforcing the expectations of continuing the main bullish trend, as the price attempts to get rid of the negative pressure formed by the EMA50 against the recent trading.

 

Therefore, the bullish trend will remain suggested in the upcoming sessions conditioned by the price stability above 48.37, noting that the waited targets begin at 52.00 and extend to 55.27 on the near term basis.

 

Expected trading range for today is between 49.00 support and 52.00 resistance.

 

Expected trend for today: Bullish

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