Crude oil breaches the initial resistance – Analysis - 16-05-2018
Economies.com
2018-05-16 03:12AM UTC
Crude oil price managed to breach the minor bearish channel’s resistance that appears on the chart and settles above it, which supports the continuation of our bullish overview in the upcoming sessions, noting that our next main target is located at 75.00.
Breaching 71.90 will ease the mission of heading towards the above mentioned target, while holding above 69.55 represents key condition to continue the expected rise.
Expected trading range for today is between 69.55 support and 73.00 resistance.
Expected trend for today: Bullish
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