Crude oil breaches the resistance – Analysis - 13-02-2019
Economies.com
2019-02-13 05:20AM UTC
Crude oil price confirmed breaching the intraday bearish channel’s resistance and settles above the EMA50 now, which hints the price head to rise again, to start the positive targets by testing 54.50 level that represents the neckline of the inverted head and shoulders’ pattern that appears on the chart, noting that breaching this level will push the price to achieve strong gains that surpass 57.46 to reach 65.00.
Therefore, we suggest the domination of the bullish bias in the upcoming sessions unless breaking 52.35 level and holding below it.
The expected trading range for today is between 52.35 support and 55.50 resistance.
The expected trend for today: Bullish
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