Crude oil crawls upwards – Analysis - 24-05-2017
Economies.com
2017-05-24 03:11AM UTC
Crude oil price continues to rise organized inside the bullish channel that appears on chart, and the price gets continuous positive support by the EMA50, to keep our bullish overview valid for today, noting that our first target is located at the bullish channel's resistance at 52.90.
Breaching the targeted level will extend the bullish wave to reach 55.27 as a next main station, while the expected rise will remain valid unless we witnessed clear break and holding below 49.85.
Expected trading range for today is between 50.00 support and 53.50 resistance.
Expected trend for today: Bullish
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